A furniture dealer purchased a desk for $150 and then set the selling price equal to the purchase price plus a markup that was 20% 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?	Pick one:
A) 45%
B) 40%
C) 35%
D) 30%
E) 25%
Anyway, in this question, there is no discount but the mark up is given as 40% of the selling price. So it is not 20% of $150 but instead, 20% of Selling price which is obtained by adding mark up to $150.   So if selling price is S,   150 + 20% of S = S   S = 150/0.8   Profit = 150/0.8-150= which is calculated on cost price in % terms. So  37.5/150 * 100= 
<gadget id="calculator"> 37.5/150 * 100</gadget>
<output>25</output>
25% is profit.   25%
<result>E</result>
A furniture dealer purchased a desk for $150 and then set the selling price equal to the purchase price plus a markup that was 20% 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?