Problem: 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 ?
Rationale: 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 = 25 % is profit . e
annotated_formula: divide(multiply(subtract(divide(150, subtract(const_1, divide(20, const_100))), 150), const_100), 150)