Word problem: School is raising money for scholarships, with the goal of $16,000. The plan is to sell event tickets for $10, and give each person in attendance a ball cap. The cost of the caps is $2 each. Other expenses add up to $2,000. The organizing committee needs to know how many tickets must be sold to raise the money for the $16,000 in scholarships.

Question

Word problem: School is raising money for scholarships, with the goal of $16,000. The plan is to sell event tickets for $10, and give each person in attendance a ball cap. The cost of the caps is $2 each. Other expenses add up to $2,000. The organizing committee needs to know how many tickets must be sold to raise the money for the $16,000 in scholarships.

I must write 2 equations:

One to model the dollar cost; and
One to model the dollar revenue
(ignoring the cost of the scholarships for now).

I have the following answers:

Let x = number of tickets
Let y = dollar cost
y= 2x + 2,000

and

Let x = number of tickets
Let y = dollar revnue
y = 10x

Can someone tell me if that's right?

Answer 1

(10-2)x - 2000 = $16,000

8x - 2000 = 16000
8x = 18000
X = 2,250 Tickets.