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:
This questions was previously asked in
ssc cgl 2023 pre
Explanation:
- Let's assume the original price of the cell phone is $100.
- Ram bought it at a 30% discount, which means he paid $70.
- He sold the phone at a 50% profit on the price he paid. So, he sold it for $70 + 0.5 * $70 = $105.
- We need to find the profit percentage based on the original price.
- The profit according to the original price is $105 - $100 = $5.
- Therefore, the percentage of profit on the original price is ($5 / $100) * 100 = 5%.
- Given options:
1. 25%
2. 50%
3. 15%
4. 5% - Correct Answer
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By: Parvesh Mehta