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?
*$40
*$60
*$80
*$90
*$100
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gettin there
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parallel_chase
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CP = 150gettin there 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?
*$40
*$60
*$80
*$90
*$100
SP = CP + 40%SP
SP = 150 + .4SP
.6SP = 150
SP = 150 * 10/6 = 250
profit = SP-CP = 250-150 = 100
Hope this helps.
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