Question

An arena receives $1,700 per event for 12 concerts. If the costs for this sponsorship total $14,000, what is the profit margin for the concert sponsorship?

Answer 1

Answer:

The profit margin for the concert sponsorship is 31.3725 %

Step-by-step explanation:

An arena receives for 1 event = $1700

An arena receives for 12 events = $12 \times 1700$

An arena receives for 12 events = 20400

The costs for this sponsorship total $14,000

Profit = 20400-14000

Profit =6400

Profit margin =$\frac{6400}{20400} \times 100$

Profit margin = $31.3725\%$

Hence the profit margin for the concert sponsorship is 31.3725 %