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.

  1. (a)
    1. (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 $ ___

    2. (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 ___ %

  2. (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 =60%×160=60\%\times160

=0.60×160=96=0.60\times160=96

2. Find the numbers of children and accompanying adults.

Number of children =75%×96=75\%\times96

=0.75×96=72=0.75\times96=72

Number of adults =96−72=24=96-72=24

3. Calculate the total ticket sales collected.

Total amount collected

=72($32.50)+24($9)=72(\char36{}32.50)+24(\char36{}9)

=$2340+$216=$2556=\char36{}2340+\char36{}216=\char36{}2556

Answer

$2634

2(a)(ii)

1. Recall the number of children in the afternoon session.

From part (a)(i), the playground was 60%60\% full, so the number of patrons was
60%×160=96.60\% \times 160 = 96.
Since 75%75\% were children,
75%×96=72.75\% \times 96 = 72.
So there were 7272 children in the afternoon.

2. Find the number of children in the evening from the children ticket sales.

Each child ticket costs $32.50.
Number of children in the evening=390032.50=120.\text{Number of children in the evening} = \frac{3900}{32.50} = 120.

3. Calculate the percentage increase from afternoon to evening.

Percentage increase=120−7272×100%\text{Percentage increase} = \frac{120 - 72}{72} \times 100\%
=4872×100%=66.666…%.= \frac{48}{72} \times 100\% = 66.666\ldots\%.

Answer

62.5%62.5\%

2(b)

1. Calculate the simple interest earned under Plan A.

For Plan A,
I=PrtI=Prt
I=25000×6.2100×2=3100I=25000\times \frac{6.2}{100}\times 2=3100
Amount after 2 years:
25000+3100=2810025000+3100=28100

2. Calculate the compound amount under Plan B.

For Plan B, the quarterly rate is
6%4=1.5%\frac{6\%}{4}=1.5\%
There are
2×4=82\times 4=8
quarters in 2 years.

Amount after 2 years:
25000(1.015)8=2817.3425000(1.015)^8=2817.34

3. Compare the two plans and justify the better return.

Plan A amount =$28100=\char36{}28100.

Plan B amount =$2817.34=\char36{}2817.34.

Since 2817.34<281002817.34<28100, Plan A gives the better return.

Answer

Plan B offers a better return, since it gives about $2817.34 interest compared with Plan A's $3100?

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