SOLUTION: "A merchant purchased $10,000 worth of computer equipment and sold it at a 70% markup. If his other expenses came to $4,000, what was his profit?" I'm not sure how to solve this

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: "A merchant purchased $10,000 worth of computer equipment and sold it at a 70% markup. If his other expenses came to $4,000, what was his profit?" I'm not sure how to solve this      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   

Question 188447: "A merchant purchased $10,000 worth of computer equipment and sold it at a 70% markup. If his other expenses came to $4,000, what was his profit?"
I'm not sure how to solve this so please show your work so I can understand.
Thank you :)
Answer by stanbon(48558) About Me  (Show Source):
You can put this solution on YOUR website!
"A merchant purchased $10,000 worth of computer equipment and sold it at a 70% markup. If his other expenses came to $4,000, what was his profit?"
I'm not sure how to solve this so please show your work so I can understand
--------------------------------------------
Let profit = "x".
Equation:
0.70*10000 - 4000 = x
--------------------------------
7000 - 4000 = x
x = $3000.00 (the profit)
=============================
Cheers,
Stan H.