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


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 ) Now, From markup method

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

Now, Again

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%

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