Ronald wants to make profits by re-selling some phones he bought a week ago. He bought 200 units for just $3000, and he wants to gain a third of the initial investment in profits when all units are sold. Including the profit margin, what will be the selling price for each phone?
How much profit does Ronald want? ** The profit Ronald wants is $3000 / 3 = $<<3000/3=1000>>1000
How much profit will each phone make? ** The profit per phone sold will be $1000 / 200 phones = $<<1000/200=5>>5/phone
How much does each phone cost? ** The cost of each phone is $3000 / 200 phones = $<<3000/200=15>>15/phone
What will be the selling price for each phone? ** The selling price including the profit will be $15/phone + $5/phone = $<<15+5=20>>20
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