Question

Ram is a successful bitcoin investor. He recently sold one bitcoin for \$18{,}000$18,000dollar sign, 18, comma, 000. He made a profit of 400\%400%400, percent.
At what price did Ram buy the bitcoin?

Answer 1

Given :- Ram is a successful bitcoin investor. He recently sold one bitcoin for $18,000. He made a profit of 400%.

At what price did Ram buy the bitcoin ?

Solution :-

we know that :-

• Gain = SP - CP
• Loss = CP - SP
• Gain Percentage = (Gain*100)/ CP
• Loss Percentage = (Loss*100)/ CP
• Selling Price = ((100+Gain %)/100)*CP or ((100-Loss%)/100)*CP
• Cost Price= (100*SP)/(100+Gain%) or (100*SP)/(100-Loss%) .

given that,

• Selling Price of bitcoin = $18,000 .
• Gain % = 400% .
• CP = ? .

using above told formula , we get,

→ Cost Price = (100*SP)/(100+Gain%)

So,

→ CP = (100 * 18000) / (100 + 400)

→ CP = (100 * 18000) / 500

→ CP = (100 * 180) / 5

→ CP = 20 * 180

→ CP = $3600 . (Ans.)

Hence, Ram buy the bitcoin for $3600.

Learn more :-

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selling price of 25 articles. Find the loss or

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Answer 2

ANS=$3600

Step-by-step explanation:

easy answer