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. 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

14 necklaces

$98.56

Explanation:

She made a total revenue of $223.86, and each necklace sold for $15.99, so the number of necklaces sold is:

$223.86 / $15.99 = 14

The profit is the sales price minus the cost of materials and labor, so the profit per necklace sold is:

$15.99 − ($3.38 + $5.57) = $7.04

She sold 14 necklaces, so her total profit is:

14 × $7.04 = $98.56