A furniture dealer purchased a desk for $120 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?  Choose the correct choice from the following options
A) 70
B) 66.67
C) 65
D) 75
E) 80
Anyway, in this question, there is no discount but the mark up is given as 40% of the selling price. So it is not 40% of $150 but instead, 40% of Selling price which is obtained by adding mark up to $120.   So if selling price is S,   120 + 40% of S = S   S = 200   Profit = 80 which is calculated on cost price in % terms. So 80/120 * 100 = 66.67% is profit.   66.67
<result>B</result>
A furniture dealer purchased a desk for $120 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?