A children indoor playground can accommodate 160 people in a session. Ticket price for an accompanying adult and a child is $9 and $32.50 respectively.
- (a)
- (i)
On a particular weekend afternoon, the playground is 60% full. 75% of the patrons are children.
Calculate the total amount collected from the sales of tickets.
Answer $ ___
- (ii)
On that same particular weekend evening, $3900 was collected from the sales of tickets for children.
Calculate the percentage increase in the number of children who patronized the playground on the weekend evening compared to the afternoon.
Answer ___ %
- (i)
- (b)
Arielle plans to invest $25 000 over a period of 2 years.
Plan A offers simple interest of 6.2% per annum.
Plan B offers 6% per annum interest compounded quarterly.Determine which plan offers a better return for her.
Justify your answer.Answer
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Worked solution
2(a)(i)
1. Find the total number of patrons in the afternoon session.
Number of patrons
2. Find the numbers of children and accompanying adults.
Number of children
Number of adults
3. Calculate the total ticket sales collected.
Total amount collected
$2634
2(a)(ii)
1. Recall the number of children in the afternoon session.
From part (a)(i), the playground was full, so the number of patrons was
Since were children,
So there were children in the afternoon.
2. Find the number of children in the evening from the children ticket sales.
Each child ticket costs $32.50.
3. Calculate the percentage increase from afternoon to evening.
2(b)
1. Calculate the simple interest earned under Plan A.
For Plan A,
Amount after 2 years:
2. Calculate the compound amount under Plan B.
For Plan B, the quarterly rate is
There are
quarters in 2 years.
Amount after 2 years:
3. Compare the two plans and justify the better return.
Plan A amount .
Plan B amount .
Since , Plan A gives the better return.
Plan B offers a better return, since it gives about $2817.34 interest compared with Plan A's $3100?
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