Question

Costas and Sheila bought a raffle ticket for a charity. The grand prize is $1000.00. Costas contributed $3.50 and Sheila contributed $1.50 to the price of the ticket. If they win the grand prize, they will share the money in the same proportion that they paid for the ticket. How much of the money should each person receive?

Answer 1

Costas should receive $700 and Sheila should receive $300 from the $1000 grand prize, as they contributed to the price of the raffle ticket in a 70:30 ratio.

Step-by-step explanation:

To determine how much money Costas and Sheila should each receive if they win the grand prize in the raffle, we need to calculate the proportion of the total $5.00 they each contributed.

Costas contributed $3.50, and Sheila contributed $1.50. So, their total contribution is $5.00 ($3.50 + $1.50).

The proportion of the contribution for Costas is $3.50/$5.00, which simplifies to 7/10 or 0.7 (70%). The proportion for Sheila is $1.50/$5.00, which simplifies to 3/10 or 0.3 (30%).

Therefore, if they win the $1000 grand prize:

• Costas should receive 70% of $1000, which is 0.7 × $1000 = $700.
• Sheila should receive 30% of $1000, which is 0.3 × $1000 = $300.

Answer 2

costas get 70 and Sheila gets 30