Question
Four friends use an online coupon to get discounts on concert tickets. They spent $312 for the four tickets. What was the price of one ticket without the discount ?
Hint:
Hint:-
1. Final Amount spent = Original cost - discount received
2. Total original cost = Number of tickets
Original price per ticket"
The correct answer is: Price of 1 ticket without discount is $93
Step-by-step solution:-
Let the original cost per ticket be $x.
Now, Total cost of tickets as per original prices = Number of tickets * Price per ticket
∴ Total cost of tickets as per original prices = 4 × x …................................................... (Equation i)
Also, as per the given diagram, we get-
Total discount received = 4 × $ 15
∴ Total discount received = $ 60 .......................................................................................... (Equation ii)
Final Amount spent on the tickets = Original cost - total discount
∴ Final Amount spent on the tickets = 4x - 60 .................................................................... (From Equation i & ii)
∴ 312 = 4x - 60 .................................................................... (From given information)
∴ 312 + 60 = 4x ........................................................................... (Taking all the constants on LHS)
∴ 372 = 4x
∴ 252/4 = x .............................................................................. (Dividing both sides by 4)
∴ 93 = x
Final Answer:-
∴ Price of 1 ticket without discount is $93.
Related Questions to study
City Tours rents bicycles for $10 an hour with a maximum daily fee of $100.Make a table that shows the cost of renting a bicycle for 1, 3, 11, and 20 hours. Is time a function of cost? Explain.
As this question concluded, time is not a function of cost because the standard cost depends on the time for which the bicycle is rented. So, this concludes that time is not a function of cost. Apart from that, we should know which costs are time-based (rather than sales-based) and generally contractual.
According to the requirements, a firm's total costs can be classified into various categories. Product and period costs, fixed and variable costs, direct and indirect costs, manufacturing costs, administrative and selling expenses, and so on.
A firm's fixed or period costs are usually a function of time because they are incurred every period regardless of sales volume.
The following are some examples of fixed costs that are also contractual:
1) Manufacturing facility and administrative building rent costs
2) Salary payments made to employees
3) The cost of an annual contract signed with a third party for equipment maintenance, etc.
4) Bill for electricity and utilities for the administration building.
City Tours rents bicycles for $10 an hour with a maximum daily fee of $100.Make a table that shows the cost of renting a bicycle for 1, 3, 11, and 20 hours. Is time a function of cost? Explain.
As this question concluded, time is not a function of cost because the standard cost depends on the time for which the bicycle is rented. So, this concludes that time is not a function of cost. Apart from that, we should know which costs are time-based (rather than sales-based) and generally contractual.
According to the requirements, a firm's total costs can be classified into various categories. Product and period costs, fixed and variable costs, direct and indirect costs, manufacturing costs, administrative and selling expenses, and so on.
A firm's fixed or period costs are usually a function of time because they are incurred every period regardless of sales volume.
The following are some examples of fixed costs that are also contractual:
1) Manufacturing facility and administrative building rent costs
2) Salary payments made to employees
3) The cost of an annual contract signed with a third party for equipment maintenance, etc.
4) Bill for electricity and utilities for the administration building.
