1: One wooden boat cost you $12.00 in supplies. You will be marking the price up by 20% on this. How much will each toy cost when you place the price on your site and how much in profit will you earn?
2: 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?
20% more than the oringinal cost is 20% over 100% which is 120%. 120% is 1.2 as a decimal.
12 * 1.2 = 14.40
Subtract the cost
$14.40 - $12 = $2.4
Two necklaces cost $15 so divide that in two to get $7.5 each.
Use the same process as number one to get 8.625 or $8.63 and the profit is 1.125 or $1.13.