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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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11 Aug 2019, 18:25
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

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

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30 Sep 2019, 11:46
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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Joined: 02 Aug 2019
Posts: 2
Re: A furniture dealer purchased a desk for \$150 and then set th  [#permalink]

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06 Oct 2019, 23:26
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
Re: A furniture dealer purchased a desk for \$150 and then set th   [#permalink] 06 Oct 2019, 23:26

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