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HELP THIS IS WORTH 40 POINTS 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.

AHow 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.
BWhat decimal of every dollar of the sale price of the necklace is profit? Show your work. Round your answer to the nearest hundredth.
CLucy 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:

Verified Answer :

MissPhiladelphia

a.) If Lucy sells 1 necklace, her sales would equal to $15.99. Then her profit would be:

Profit = $15.99 - $3.38(1) - $5.57(1)
Profit = $7.04

The fraction of the sale price of the necklace in profit is denoted as x.

15.99x = 7.04
x = 704/1559

b.) This is the same as part (a) but in decimal form. Just simply divide 704 by 1559. The answer is 0.44

c.) If Lucy's sales is $223.86 and each necklace costs $15.99, then the number of necklaces sold is $223.86 ÷ $15.99/necklace = 14 necklaces

Her profit for the 14 necklaces sold would be:

$223.86 - $3.38(14) - $5.57(14) = $98.56