There are two series with 5000 lottery tickets in each .There is only one price of rupees 3000 and tickets are sold at rupees 2 each .A person buys two tickets . What will be his expected gain if he buys :- a) one ticket of each series, B) tickets of same series?

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Answer

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Scenario

There are two series with 5000 lottery tickets in each. There is only one prize of rupees 3000, and tickets are sold at rupees 2 each. A person buys two tickets. What will be his expected gain if he buys:

One ticket of each series

Tickets of the same series

Expected Gain Calculation

One Ticket of Each Series

There are a total of 10,000 tickets (5000 in each series). The probability of winning the prize is 1/10,000. Therefore, the expected gain can be calculated as:

Expected gain = (Probability of winning x Prize money) - Cost of tickets

Expected gain = (1/10,000 x 3000) - (2+2) = -0.6 rupees

Therefore, the expected gain of buying one ticket of each series is negative. It means that, on average, the person will lose 0.6 rupees for every two tickets bought.

Tickets of the Same Series

If the person buys two tickets of the same series, the probability of winning the prize increases to 2/5000 or 1/2500.

Expected gain = (Probability of winning x Prize money) - Cost of tickets

Expected gain = (1/2500 x 3000) - (2+2) = 0.2 rupees

Therefore, the expected gain of buying two tickets of the same series is positive. It means that, on average, the person will gain 0.2 rupees for every two tickets bought.

Conclusion

Based on the above calculations, it is recommended that the person should buy two tickets of the same series to maximize their expected gain. However, it is important to note that lottery is a game of chance, and there is no guarantee of winning or losing.

Answer

It may be like this:
a) If it will be of different series then, it will be 3000+3000=6000
and then 6000-4=5996
b) If it will be of different series then, it will be 3000-4=2996.

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Nhi aata ..Galt btane se kya fayada

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