A merchant purchased a jacket for $210 and then determined a selling price that equaled the purchase price of the jacket plus a markup that was 25 percent of the selling price. During a sale, the merchant discounted the selling price by 20 percent and sold the jacket. What was the merchant’s gross profit on this sale?  Choose the most appropriate option.
A) $0 B) $3 C) $4 D) $12 E) $14
Let selling price = x   So, x = 210 + 25x/100   Calculating above, x = 280   Selling price = 280   20% Discount on Selling price = 224   So, profit = 224-210= 
<gadget id="calculator">224-210</gadget>
<output>14</output>
14 Answer= $14
<result>E</result>
A merchant purchased a jacket for $210 and then determined a selling price that equaled the purchase price of the jacket plus a markup that was 25 percent of the selling price. During a sale, the merchant discounted the selling price by 20 percent and sold the jacket. What was the merchant’s gross profit on this sale?