A man sold an article at a gain of 5%. Had he sold it for

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A man sold an article at a gain of 5%. Had he sold it for Rs. 240 more, he would have gained 8%. The cost price of the article is

Let C.P. of article be Rs. y.
According to the question, 108% of y – 105% of y = 240

⇒		108y	-	105y	= 240
		100		100

⇒	3y	= 240
	100

⇒ y =	24000	= Rs. 8000
	3

Note : In the original question it is Rs. 40, not Rs. 240.
Second method to solve this question :
Here, a = 5%, R = 240, b = 8%

C.P. =	R	× 100
	b - a

C.P. =	240	× 100 = Rs 8000
	8 - 5