call price - he price at which the issuer of a callable security has the right to buy back that security from an investor or creditor
A man purchased 20 tickets for a total of $225. The tickets cost $15 for adults and $10 for childrenA man purchased 20 tickets for a total of $225. The tickets cost $15 for adults and $10 for children. What was the cost of each ticket?
Declare variables:
[LIST]
[*]Let a be the number of adult's tickets
[*]Let c be the number of children's tickets
[/LIST]
Cost = Price * Quantity
We're given two equations:
[LIST=1]
[*]a + c = 20
[*]15a + 10c = 225
[/LIST]
Rearrange equation (1) in terms of a:
[LIST=1]
[*]a = 20 - c
[*]15a + 10c = 225
[/LIST]
Now that I have equation (1) in terms of a, we can substitute into equation (2) for a:
15(20 - c) + 10c = 225
Solve for [I]c[/I] in the equation 15(20 - c) + 10c = 225
We first need to simplify the expression removing parentheses
Simplify 15(20 - c): Distribute the 15 to each term in (20-c)
15 * 20 = (15 * 20) = 300
15 * -c = (15 * -1)c = -15c
Our Total expanded term is 300-15c
Our updated term to work with is 300 - 15c + 10c = 225
We first need to simplify the expression removing parentheses
Our updated term to work with is 300 - 15c + 10c = 225
[SIZE=5][B]Step 1: Group the c terms on the left hand side:[/B][/SIZE]
(-15 + 10)c = -5c
[SIZE=5][B]Step 2: Form modified equation[/B][/SIZE]
-5c + 300 = + 225
[SIZE=5][B]Step 3: Group constants:[/B][/SIZE]
We need to group our constants 300 and 225. To do that, we subtract 300 from both sides
-5c + 300 - 300 = 225 - 300
[SIZE=5][B]Step 4: Cancel 300 on the left side:[/B][/SIZE]
-5c = -75
[SIZE=5][B]Step 5: Divide each side of the equation by -5[/B][/SIZE]
-5c/-5 = -75/-5
c = [B]15[/B]
Recall from equation (1) that a = 20 - c. So we substitute c = 15 into this equation to solve for a:
a = 20 - 15
a = [B]5[/B]
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Lamar had N record albums that he tried to sell at a garage sale for $5 each. If the number of recorLamar had N record albums that he tried to sell at a garage sale for $5 each. If the number of record albums he didn't sell is called Q, how much money did Lamar get from record album sales?
Sales = Price * (Albums had - Albums sold)
[B]Sales = 5(N - Q)[/B]