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# A furniture delaer purchased a desk for $150 and then set  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Intern Joined: 15 Jul 2005 Posts: 25 Followers: 0 Kudos [?]: 0 [0], given: 0 A furniture delaer purchased a desk for$150 and then set [#permalink]

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01 Sep 2005, 06:05
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A furniture delaer 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 of the sale of the desk? a) 40 b) 60 c) 80 d) 90 e) 100 please show work...thanks. Senior Manager Joined: 29 Nov 2004 Posts: 483 Location: Chicago Followers: 1 Kudos [?]: 29 [0], given: 0 ### Show Tags 01 Sep 2005, 08:12 E 150 + 0.4S = S so S = 250 and profit = 100 _________________ Fear Mediocrity, Respect Ignorance Intern Joined: 19 Aug 2005 Posts: 17 Followers: 0 Kudos [?]: 0 [0], given: 0 ### Show Tags 06 Sep 2005, 12:42 I got a) 40 This is because the sale price was the original price of$150.00 plus 40%. Since 40% of $150.00 is$60.00 the total sale price is $210.00. This is a profit of$60 which is a 40% increase over the original purchase price of $150.00. I don't understand how you guys got E. Can someone please clarify where I went wrong? thx Manager Joined: 15 Jul 2005 Posts: 105 Followers: 1 Kudos [?]: 9 [0], given: 0 ### Show Tags 06 Sep 2005, 14:05 edsilver wrote: I got a) 40 This is because the sale price was the original price of$150.00 plus 40%. Since 40% of $150.00 is$60.00 the total sale price is $210.00. This is a profit of$60 which is a 40% increase over the original purchase price of $150.00. I don't understand how you guys got E. Can someone please clarify where I went wrong? thx I think you got the wording wrong. The question says "selling price equal to the purchase price plus a markup that was 40% of the selling price" Sale price (SP) = 150 + 40 % of SP SP - .4*SP=150, or SP = 250. and therefore profit = 100. 06 Sep 2005, 14:05 Display posts from previous: Sort by # A furniture delaer purchased a desk for$150 and then set

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