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

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Intern
Joined: 14 Jul 2006
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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

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Director
Joined: 11 Jun 2007
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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

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

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Re: Markup Problem   [#permalink] 11 Aug 2007, 19:51
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# A furniture dealer purchased a desk for \$150 and then set

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