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# A furniture dealer purchased a desk for $150 and then set  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Intern Joined: 25 Aug 2006 Posts: 25 Followers: 0 Kudos [?]: 0 [0], given: 0 A furniture dealer purchased a desk for$150 and then set [#permalink]  17 Nov 2006, 10:06
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.
Intern
Joined: 25 Aug 2006
Posts: 25
Followers: 0

Kudos [?]: 0 [0], given: 0

E is the correct answer - how did you get to this answer?
Intern
Joined: 09 Nov 2006
Posts: 10
Followers: 0

Kudos [?]: 0 [0], given: 0

S= Sale price

S= 150 + .4S

.6S= 150

S= 250

Gross Profit = Sale Price - Purchase Price

250-150= 100

Hope that helped
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