Lucy has a jewelry business. To make a certain necklace, she spends $3.38 on materials and $5.57 on labor. She then sells the necklace for $15.99. Lucy’s profit on the necklace is equal to the sale price minus the cost of materials and labor. How much profit does Lucy earn when she sells a necklace? What fraction of the sale price of the necklace is profit? Record your answer as a fraction using whole numbers.
What decimal of every dollar of the sale price of the necklace is profit? Show your work. Round your answer to the nearest hundredth.
Lucy collected $223.86 selling necklaces at a craft fair. How many necklaces did Lucy sell? How much profit did she earn? Show your work.