At a concert, 65% of the tickets were sold at full price and 25% of the tickets at half price. The remaining 40 tickets were given away free. The total amount of money collected was $9920. What was the full price of a ticket?
Question
At a concert, 65% of the tickets were sold at full price and 25% of the tickets at half price. The remaining 40 tickets were given away free. The total amount of money collected was $9920. What was the full price of a ticket?
Solution
Let's denote the full price of a ticket as X.
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We know that 65% of the tickets were sold at full price, 25% at half price, and the remaining 10% were given away for free. This is because 65% + 25% = 90%, and 100% - 90% = 10%.
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We also know that the total number of tickets is 100%, and 10% of the total number of tickets is 40 (the number of free tickets). Therefore, the total number of tickets is 40 / 10% = 400 tickets.
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Now, we know that 65% of the tickets were sold at full price, which is 65% * 400 = 260 tickets.
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Similarly, 25% of the tickets were sold at half price, which is 25% * 400 = 100 tickets.
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The total amount of money collected was 9920.
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Simplifying the equation gives us 260X + 50X = 9920.
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Solving for X, we get X = 32.
Therefore, the full price of a ticket was $32.
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