A Furniture Dealer

[Peiyilin09]

Hi there,
Could someone help me with this prob? I have no idea how to arrive at the right answer. Thanks!

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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?

a) $40
b) $60
c)$80
d) $90
e) $100

[RonPurewal]

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