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) How much profit does Lucy earn when she sells a necklace? What fraction of the sale price of the necklace is profit? Record your answer as a fraction using whole numbers.(b) What decimal of every dollar of the sale price of the necklace is profit? Show your work. Round your answer to the nearest hundredth.(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.
Accepted Solution
A:
I'm going to try my best, I'm not the greatest at math. (a) Lucy sells one necklace for $15.99, her profit would be: Profit = $15.99 - $3.38(1) - $5.57(1)Profit = $7.04(b) Divide 704 by 1599, 704 ÷ 1599 = 0.44.(c) To find the larger sum you should divide, $223.86 ÷ $15.99/necklace = 14 necklaces. So her profit for 14 necklaces is $223.86 - $3.38(^14) - $5.57(^14) = $98.56.Hope this helps!!