Question

1. 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) What fraction of the sale price of the necklace is profit? Give your answer as a proper fraction.17/10 (b) What percent of the sale price of the necklace is profit? Show your work. Round your answer to the nearest whole percent.18/1 (c) Lucy earned $223.86 selling necklaces at a craft fair. How many necklaces did Lucy sell? How much profit did she earn? Show your work.100 point

Answer 1

a)

Add the costs of material and labor together:

`3.38 + 5.57 = 8.95`

Subtract this value from how much Lucy sells a necklace for:

`15.99 - 8.95 = 7.04`

Lucy's profit from a necklace is $7.04.

Set up a fraction where the profit is the numerator, and the sale price is the denominator to get your ratio:

`(7.04)/(15.99) = (704)/(1599)`

The ratio will be 704/1599.

b)

Divide the profit by the sale price:

`7.04 / 15.99 = 0.4403`

Multiply the decimal by 100 to get your percentage:

`0.4403 * 100 = 44.03`

Check the tenths value to round to the nearest percent:

0 < 5

44.03 ≈ 44

44% of the sale price is profit.

c)

Divide the total amount Lucy earned at the fair by the sale price of an individual necklace:

`223.86 / 15.99 = 14`

Lucy made 14 necklaces.

To find the total profit Lucy made from the fair, multiply the total amount of necklaces she made by the profit for each necklace:

`14 * 7.04 = \boxed{98.56}`

Lucy's total profits were $98.56.