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?
The profit Ronald wants is $3000 / 3 = $<<3000/3=1000>>1000
The profit per phone sold will be $1000 / 200 phones = $<<1000/200=5>>5/phone
The cost of each phone is $3000 / 200 phones = $<<3000/200=15>>15/phone
The selling price including the profit will be $15/phone + $5/phone = $<<15+5=20>>20
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