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A furniture dealer purchased a desk for $150 and then set

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A furniture dealer purchased a desk for $150 and then set [#permalink] New post 17 Nov 2006, 11:06
A furniture dealer purchased a desk for $150 and then set the selling price equal to the purchase price plus a markup that was 40 percent of the selling price. If the dealer sold the desk at the selling price, what was the amount of the dealer's gross profit from the purchase and the sale of the desk?

A. $40
B. $60
C. $80
D. $90
E. $100

OA will come after a few posts.
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 [#permalink] New post 17 Nov 2006, 12:24
E is the correct answer - how did you get to this answer?
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 [#permalink] New post 17 Nov 2006, 12:35
S= Sale price

S= 150 + .4S

.6S= 150

S= 250

Gross Profit = Sale Price - Purchase Price

250-150= 100

Hope that helped
  [#permalink] 17 Nov 2006, 12:35
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