4. The Alan Company bought 80 tickets for a jazz company. After giving away 20 tickets to customers, the company sold the rest to the employees for half of the purchase price. If the company absorbed a $1,000 loss on all tickets , how much did an employee pay for a ticket.
To find out how much an employee paid for a ticket, we first need to determine the original purchase price of the tickets.
The Alan Company initially bought 80 tickets for the jazz company. After giving away 20 tickets to customers, they had 80 - 20 = 60 tickets left.
Let's assume the original purchase price of each ticket was x dollars. So, the total cost of buying 60 tickets at that price would be 60x dollars.
Given that the company absorbed a $1,000 loss on all tickets, we can set up the following equation:
60x - 1000 = 0
Solving this equation will give us the purchase price per ticket (x).
60x = 1000
Dividing both sides of the equation by 60, we get:
x = 1000 / 60
x ≈ 16.67
Therefore, the original purchase price of each ticket was approximately $16.67.
Since the employees bought the tickets for half of the purchase price, they paid:
(1/2) * $16.67 = $8.33
Therefore, an employee paid approximately $8.33 for a ticket.