Question

Lucy has a jewelry business. To make a certain necklace, she spends $3.38 on materials and $5.57 on labor. She then sells the necklace for $15.99. Lucy’s profit on the necklace is equal to the sale price minus the cost of materials and labor.

(a) How much profit does Lucy earn when she sells a necklace?



(b) What percent of the sale price is profit? Show your work. Round your answer to the nearest hundredth of a percent.



(c) Lucy collected $223.86 selling necklaces at a craft fair. How many necklaces did Lucy sell? How much profit did she earn? Show your work.

Answer 1

the fraction of the sale price of this necklace would be (704/1599). To find the percent you would divide 7.04 by 15.99 to find the decimal would be 44%. 223.86/15.99=14 necklaces. 14(7.04)=$98.56 of profit.

Hope this helps. c;