Ram bought a cell phone and paid 30% less than its original price. He sold it…
2023
Ram bought a cell phone and paid 30% less than its original price. He sold it at 50%profit on the price he had paid. The percentage of profit earned by Ram on the original price was:
- A.
25
- B.
50
- C.
15
- D.
5
Attempted by 9 students.
Show answer & explanation
Correct answer: D
Let the original price be P. Ram paid 30% less, so cost price = 0.70P. He sold it at 50% profit on his cost price, so selling price = 1.5 x 0.70P = 1.05P. Profit on original price = 5%.