You have made two of the exact same necklaces that cost you a total of $15 in supplies. You have chosen to mark up the price by

Question

1 year ago

7

15%. How much will each necklace be sold at and how much will you make in profit for each?
Please show your work!!!!

1 answer:

tatyana61 [14] · Answer 1 · 2020-12-08T06:55:40+03:00

Answer:

A) The selling price for each necklaces is $8.625

B) The profit mark in each necklaces is 15%

Step-by-step explanation:

Given as :

The total cost of two necklaces = c.p = $15

The markup percentage for the necklaces = m = 15%

Let The selling price for both necklaces = s.p

A ) <u>Now, From markup method</u>

m% = $\dfrac{s.p - c.p}{c.p}$

or, 15% = $\dfrac{s.p - 15}{15}$

or, 15% = $\dfrac{s.p}{15}$ - 1

or, $\dfrac{s.p}{15}$ = 1 + 15%

or, $\dfrac{s.p}{15}$ = 1 + $\dfrac{15}{100}$

or, $\dfrac{s.p}{15}$ = $\dfrac{100 + 15}{100}$

or, $\dfrac{s.p}{15}$ = $\dfrac{115}{100}$

∴ s.p = $\frac{15\times 115}{100}$

I.e s.p = $17.25

So, selling price of two necklaces = s.p = $17.25

or, selling price of one necklaces = s.p = $\dfrac{17.25}{2}$ = $8.625

Hence, The selling price for each necklaces is $8.625

<u>Now, Again</u>

B) ∵ The total cost of two necklaces = c.p = $15

So, The cost price of one necklaces = $\dfrac{15}{2}$ = $7.5

∴ profit% for each necklace = $\dfrac{s.p - c.p}{c.p}$

i.e profit% for each necklace = $\dfrac{8.625 - 7.5}{7.5}$

Or, profit% for each necklace = $\dfrac{1.125}{7.5}$

Or, profit% for each necklace = 0.15

So, The profit make in each necklaces = 15%

Hence, The profit mark in each necklaces is 15%

Answer