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?
Cost Price = $10,000
Markup price = 70% of 10000
Markup price = (70/100) * 10000
Markup price = 0.7 * 10000
Markup price = $7000
Selling price = Cost Price + Markup price
Selling price = 10000 + 7000
Selling price = $17000
Other expenses = $4000
Profit = Selling Price - Cost Price - Other Expenses
Profit = 17000 - 10000 - 4000
Profit = $3000
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