A small firm manufactures necklaces and bracelets. The total number of necklaces and bracelets that it can handle per day is at most 24. It takes 1 hour to make a bracelet and half an hour to make a necklace. The maximum number of hours available per day is 16. If the profit on a necklace is Rs 100 and that on a bracelet is Rs 300, how many of each should be produced daily to maximize the profit?