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by Anurag@Gurome » Thu May 12, 2011 8:20 pm
Solution:
The cost price of the desk is $150.
Let the selling price be s.
So, the markup price was $(40% * s).
So, 150 + 40%*s = s.
Or s = $250.
Or profit is $250 - $150 = $100.
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by Bek » Thu May 12, 2011 8:34 pm
Image


Purchase price - $150
Markup - 40% of the selling price

Before calculating the gross profit, first we should determine selling price:

1) 100% - 40% = 60% (or 0.60)
2) 150 : 0.6 = 250

$250 is the selling price

$250 - $150 = $100

The gross profit - $100




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