250 lottery tickets were sold and there are 5 prizes on these tickets. If Kunal has purchased one lottery ticket, what is the probability that he wins a prize?
Total numbers of elementary events are: 250
Let E be the event of winning a prize
Then, the numbers of favourable event are= 5 being number of prizes
∴ P (winning a prize) = P (E) = 5/250 = 1/50