Question

Marquetta makes necklaces. Her cost for materials is $4.50 per necklace. She charges that plus a 64% markup. How much does Marquetta charge for a necklace?

a) $7.38
b) $8.74
c) $7.92
d) $6.48

Answer 1

Marquetta charges a 64% markup on the material cost of $4.50 for her necklaces. The markup is $2.88, resulting in a final price of $7.38 per necklace, which is option (a).

Step-by-step explanation:

Marquetta makes necklaces, and her cost for materials is $4.50 per necklace. To determine how much she charges for a necklace, we need to calculate the markup first. A 64% markup on the material cost means that the markup amount is 64% of $4.50.

To calculate the markup, you can multiply the cost by the percentage of the markup in decimal form (64% is 0.64 in decimal):

Markup = Cost × Markup percentage
Markup = $4.50 × 0.64
Markup = $2.88

Now, add the markup to the original cost to find the final price that Marquetta charges for a necklace:

Final Price = Original Cost + Markup
Final Price = $4.50 + $2.88
Final Price = $7.38

Therefore, Marquetta charges $7.38 for a necklace, which corresponds to option (a).