Sylvia is a jewelry maker who wants to make a 55% profit on the necklaces she makes. If it costs $12.40 to make a necklace, what should be the selling price?
A
Selling Price
B
Selling Price
C
Selling Price
D
Selling Price
The selling price should be calculated as follows:
Cost price = $12.40
Profit percentage = 55%
Profit = (Profit percentage / 100) * Cost price
Profit = (55 / 100) * $12.40
Profit = $6.82
Selling price = Cost price + Profit
Selling price = $12.40 + $6.82
Selling price = $19.22
Therefore, the selling price should be $19.22. Answer D.