A furniture store purchases chairs at $75 each. The list price is set with a 60% markup on cost. If the store initially buys 500 chairs and sells 60% at the list price. To clear excess inventory, it offers a 20% discount on the list price and sells the remaining 40% at the discounted price, what is the total profit made by the store?

The store buys 500 chairs at \$75 each, so the total cost is \$37,500. The list price is set with a 60% markup, making it \$120 per chair. The store sells 300 chairs (60%) at this list price for \$36,000. The remaining 200 chairs (40%) are sold at a 20% discount, reducing the price to \$96 per chair for a total of \$19,200. The total revenue from all sales is \$55,200, and subtracting the initial cost of \$37,500 yields a total profit of $17,700.

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