Troy purchased a rare basketball card for $50.He later sold the card making a profit of 150%.What was the resale price of the card?A. $100B. $125C. $150D. $175
Question
Troy purchased a rare basketball card for 100B. 150D. $175
Solution
To solve this problem, you first need to understand what a 150% profit means.
Step 1: Calculate the profit. Profit is calculated as a percentage of the cost price. In this case, the cost price is 75.
Step 2: Calculate the resale price. The resale price is the cost price plus the profit. So, the resale price is 50 + 75 = $125.
So, the correct answer is B. $125.
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