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

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Re: A furniture dealer purchased a desk for $150 and then set th  [#permalink]

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New post 11 Aug 2019, 19:25
udribat 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% 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


We are given that 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.

We can create the following equation in which s = the selling price.

150 + 0.4s = s

150 = 0.6s

1,500 = 6s

250 = s

Now we can determine the gross profit, which is revenue – cost.

Gross profit = $250 – $150 = $100

Answer: E
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Re: A furniture dealer purchased a desk for $150 and then set th  [#permalink]

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New post 30 Sep 2019, 12:46
udribat 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% 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


Revenue = Profit - Cost
Revenue = [150 + (4/10)P] - 150

P = 150 + (4/10)P
(6/10)P = 150
P = 150(10/6)
P = 250

R = 250 - 150 = 100
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Re: A furniture dealer purchased a desk for $150 and then set th  [#permalink]

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New post 07 Oct 2019, 00:26
this is all about furniture dealer purchased desk

the markup is 50% of the total price, the cost of 140 is 70 percent of the cost
hence the markup is two thirds of 160 = 70*2 =140
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Re: A furniture dealer purchased a desk for $150 and then set th   [#permalink] 07 Oct 2019, 00:26

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