Question

$1000$ tickets of a lottery were sold and there are $5$ prizes on these tickets. If Saakar had purchased one lottery ticket, what is the probability of winning a prize?

Answer 1

Step 1: Find the number of favorable outcomes:

Given that, the total number of lottery tickets sold $=1000$

The total number of prizes on these tickets $=5$

Thus, the number of possible outcomes will be $1000$

Also, the number of favorable outcomes of winning a prize is $5$

Step 2: Use the formula for probability:

$\text{Probability=}\frac{\text{Number of favorable outcomes}}{\text{Total number of possible outcomes}}$

Thus, the probability will be,

$$\begin{gathered} \text{Probability=}\frac{5}{1000} \\ \text{=0.005} \end{gathered}$$

Hence, the probability of winning a prize will be $0.005$.