Salem Players Chess Association: 3d. Athens Madurai. Cat C. Final profit 37 Lakhs 54 thousand in 3 days ??

Athens of East, Madurai Category C below 1800 rated. December 28 - 30

TRUTH : 950 out of 1000 chess players do not earn Rs 1000 in 1000 days

Entry fee Rs 6000 x 959 players = 57 Lakhs 54 thousand collection.

Category C

Number of entries 959. Rs 6000 x 959 players = 57 Lakhs 54 thousand ???

Total prize fund for Category C : 12 Lakhs

Remaining : 45 lakhs 54 thousand.

FIDE fee is Rs 20,000 for 150 players

Each player after 150 players Rs 100 per player. 809 players x Rs 100 = Rs 80,900.

So Rs 20,000 + Rs 80,900 = Rs 100,900 is FIDE fee.

AICF = 10% of total prize fund ????? 12 Lakhs 10% is 1 Lakh 20,0000 (1 Lakh twenty thousand) ?????

So FIDE and AICF fee is Rs 100,900 + 1 Lakh 20,000 = 2 Lakhs 20 thousand.

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Total prize fund for Category B is 12 Lakhs

Money to FIDE and AICF is 2 lakhs 20,000.

Building rental, chairs, tables, arbiters, drinking water etc = 2 lakhs at the most

Lunch for 959 players

959 x Rs 100 = Rs 95,900 x 3 days = 3 Lakhs.

Total approximate expenditure is 20 Lakhs

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Number of entries 959. Rs 6000 x 959 players = 57 Lakhs 54 thousand ???

Minus 20 Lakhs

Final profit

37 Lakhs 54 thousand in 3 days.

Salem Players Chess Association