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A trader sells an article at a profit of 15%. If he had bought it for 15% less and had sold it for $ 7.80 less, he would have gained 20%. Find the cost price of the article.
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- $ 65
- $ 80
- $ 60
- $ 70
Correct Option: C
Let C.P. of the article = $ 100
∴ The first selling price = $ 100 + $ 15 = $ 115
Now, C.P. = 100 – 15 = $ 85
| S.P.= $ |  | 85 × 120 |  | = $ 102 | ||
| 100 |
Difference in S.P. = $ 115 – $ 102 = $ 13
∵ If difference is $ 13, then C.P. = $ 100
| ∴ If difference is $ | ,then | 10 |
| C.P. = | × | = $ 60 | 13 | 10 |
