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# A furniture dealer purchased a desk for $150 and then set  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Intern Joined: 14 Jul 2006 Posts: 1 Followers: 0 Kudos [?]: 0 [0], given: 0 A furniture dealer purchased a desk for$150 and then set [#permalink]

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11 Aug 2007, 16:50
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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
Director
Joined: 11 Jun 2007
Posts: 931
Followers: 1

Kudos [?]: 161 [0], given: 0

Re: Markup Problem [#permalink]

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11 Aug 2007, 19:51
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, 19:51
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# A furniture dealer purchased a desk for \$150 and then set

 post reply Question banks Downloads My Bookmarks Reviews Important topics

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