Problem Solving

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 dealers gross profit from the purchase and the sale of the desk?

A) 40
B) 60
C) 80
D) 90
E) 100

My Answer Is 100!

This is what i think-

Selling price= Purchase price+40% markup

Thus
x= 150+2X/5

thus x= 250

The total profit is x-150 = 250-150

100

Yes the answer is 100, thanks for the explanation. I think i just read the problem incorrectly

blitz28 wrote:This is what i think-

Selling price= Purchase price+40% markup

Thus
x= 150+2X/5

thus x= 250

The total profit is x-150 = 250-150

100

I would like to bring a correction to the equation

x = 150 + (2/5)x

Cheers!