David Drake bought a soccer ball for $16 and sold it at a 150% profit. For how much did he sell the ball?

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David Drake bought a soccer ball for $16 and sold it at a 150% profit. For how much did he sell the ball?

Mathematics
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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Please help ^_^. I am cofused
16*150%=profit profit=$24 so he sold it at 16+24=$40
Thank you so much!

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I read http://www.f1gmat.com/problem-solving/gmat-profit-and-loss and found out how little I know about the definition of profit.
Thank you for this link!!!

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