Question : 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:
Option 1: 25%
Option 2: 50%
Option 3: 15%
Option 4: 5%
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Correct Answer: 5%
Solution :
Let the original price be Rs. 100.
Price at which Ram bought the phone = 100 – 30% of 100= Rs. (100 – 30) = Rs. 70
Price at which Ram sold the phone = 70 + 50% of 70 = Rs. (70 + 35) = Rs. 105
Profit percent on original price = $\frac{105-100}{100}×100$ = $\frac{5}{100}×100$ = 5%
Hence, the correct answer is 5%.
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