At a local fate, a church is organizing a penny raffle whereby the top prize is a flat screen television.

Raffle tickets are drawn at random from a bag containing 300 raffle tickets numbered 001 to 300. The price of the ticket is the number on the ticket drawn in pence. So, for example, if you were to draw out number 218, you would pay 218 pence (£2.18). Similarly, if you were to draw out number 010, you would only pay 10 pence.

Assuming all 300 raffle tickets are sold, how much money will be raised from the sale of the raffle tickets?

Is there a quick formula that could be used to calculate this, or is it simply a case of adding it all up manually?

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