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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 11 Aug 2007, 15:50
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

Can you help me how to solve this problem
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Re: Markup Problem [#permalink] New post 11 Aug 2007, 18:51
tangocharlie wrote:
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

Can you help me how to solve this problem


i get answer E) 100

We want to know the gross profit

p = purchase price
s = selling price

s = p + 0.4s
s = 150 + 0.4s
0.6s = 150
s = 250

gross profit = s - p
250 - 150 = 100
Re: Markup Problem   [#permalink] 11 Aug 2007, 18:51
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A furniture dealer purchased a desk for $150 and then set

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