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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: 14 Jul 2006 Posts: 1 Followers: 0 Kudos [?]: 0 [0], given: 0 A furniture dealer purchased a desk for$150 and then set [#permalink]  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
Director
Joined: 11 Jun 2007
Posts: 932
Followers: 1

Kudos [?]: 72 [0], given: 0

Re: Markup Problem [#permalink]  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

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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