Prasanth bought a car and paid 10 % less than the original price. He sold it with 30% profit on the price he had paid. What percentage of profit did he earn on the original price?
17%
16%
18%
14%
Explanation:
Let the original price = 100
Then the price at which he purchased (CP)= 90% of 100 = 90
Profit = 30%
SP = $\dfrac{\left(100 + Profit\%\right)}{100} \times CP$ =$ \dfrac{\left(100 + 30\right)}{100} \times 90$
= $\dfrac{130}{100} \times 90 $ = $13\times 9$ = 117
Required% = $\dfrac{\left(117-100\right)}{100} \times 100$ = 17%