A furniture dealer purchased a desk for 150 dollars and then set the selling price equall to the purchase price plus a mark up that was 40 percent of the selling price. If the dealer sold the desk at the selling price, what was the amount of the dealers gross profit from the purchase and sale of the desk.
40
60
80
90
100
I dont know what is wrong with my equation
selling price - purchase price = profit
(150 + 0.4 S) - 150 = 0.4 S ...> this equation does not get me anywhere
word problem ( sales and profit)
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Purchase price = 150
New price(40% mark up) 150*(140/100) = 210
Gross profit = 210-150 = 60
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selling price = purchase price * markup (i.e 140%- because 40% increase)
gross profit = Selling price - purchase price
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New price(40% mark up) 150*(140/100) = 210
Gross profit = 210-150 = 60
...............................................................................................
selling price = purchase price * markup (i.e 140%- because 40% increase)
gross profit = Selling price - purchase price
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- thephoenix
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IMO ans is Ehpgmat wrote:A furniture dealer purchased a desk for 150 dollars and then set the selling price equall to the purchase price plus a mark up that was 40 percent of the selling price. If the dealer sold the desk at the selling price, what was the amount of the dealers gross profit from the purchase and sale of the desk.
40
60
80
90
100
I dont know what is wrong with my equation
selling price - purchase price = profit
(150 + 0.4 S) - 150 = 0.4 S ...> this equation does not get me anywhere
Purchase price=150
selling price=s
mark up=.4s
--->SP=150+.4s---->s=150+.4s--->.6s=150--->s=250
profit=SP-PP
---> 250-150=100
in your approach u need to do one more step
u got profit=.4s which is same as SP-PP--->.4s=s-150---> after solving this u will get s=250
pls confirm the OA