Question 28

A player rolls a die and receives the same number of rupees as the number of dots on the face that turns up. What should the player pay for each roll if he wants to make a profit of one rupee per throw of the die in the long run?

Solution

The expected money got by the player = 1*1/6 + 2*1/6 + 3*1/6 + 4*1/6 + 5*1/6 + 6*1/6 = 21/6 = Rs 3.5

So, the player has to pay 3.5 - 1 = Rs 2.5 to get a profit of Re 1 in the long run.


Create a FREE account and get:

  • All Quant CAT complete Formulas and shortcuts PDF
  • 35+ CAT previous year papers with video solutions PDF
  • 5000+ Topic-wise Previous year CAT Solved Questions for Free

cracku

Boost your Prep!

Download App