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# If the company absorbed a \$1000 loss on all the tickets, how much did an employee pay for a ticket?

This is the complete question:
The Alan company bought 80 tickets for a jazz concert. After giving away 20 to customers, the company sold the rest to employees at half of the purchase price. If the company absorbed a \$1000 loss on all the tickets, how much did an employee pay for a ticket?

### 2 Answers by Expert Tutors

Fayvor L. | Princeton Grad, Internet Tech VP: Math/Science/Music/ComputersPrinceton Grad, Internet Tech VP: Math/S...
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• Let p be the purchase price of a ticket.
• The Alan company bought 80 tickets at a total cost of 80p
• The company sold 60 tickets (the original 80 minus the 20 they gave away) at half price, so they made 60*(1/2)*p on the sale
• The company lost \$1000, which is the difference between what they spent on the tickets (the total cost) and what they made back from the sale

total cost - total made = total lost
80p - 60*(1/2)*p = \$1000
80p - 30p = \$1000
50p = \$1000
p = \$20

Since the purchase price p = \$20, each employee spent (1/2)*\$20 = \$10 for a ticket.
Vivian L. | Microsoft Word/Excel/Outlook, essay composition, math; I LOVE TO TEACHMicrosoft Word/Excel/Outlook, essay comp...
3.0 3.0 (1 lesson ratings) (1)
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Hi Abaline;
80-20=60 tickets sold
\$1000=loss of purchase price
\$2000=purchase price
\$1000/60 tickets=\$16.67/ticket