Furniture Purchased (Real Gmat Problem)

[relaxin99]

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

[blitz28]

My Answer Is 100!

[blitz28]

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

[relaxin99]

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

[carllecat]

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!