perry spent $22.50 on material to make necklaces. he used all of the material and made 15 necklaces. how…

perry spent $22.50 on material to make necklaces. he used all of the material and made 15 necklaces. how much should perry charge for each necklace if he wants to make a profit of $60?\n$1.50\n$4.00\n$5.50\n$7.00

perry spent $22.50 on material to make necklaces. he used all of the material and made 15 necklaces. how much should perry charge for each necklace if he wants to make a profit of $60?\n$1.50\n$4.00\n$5.50\n$7.00

Answer

Explanation:

Step1: Calculate total revenue needed

The cost of materials is $22.50 and the desired profit is $60. So the total revenue $R$ needed is the sum of the cost and the profit. $R=22.50 + 60=82.50$

Step2: Calculate price per necklace

He made 15 necklaces. Let the price per necklace be $p$. Then $p=\frac{R}{15}$. Substitute $R = 82.50$ into the formula. $p=\frac{82.50}{15}=5.50$

Answer:

C. $5.50$