A watch is sold at a profit of 25%. Had it been sold for Rs. 120 less than, there would have been a less then of 15%. What is the cost price in rupees ?
Answer & explanation
Correct answer: option 4
Let the cost price = 100x
According to the question,
100x × 125% - 120 = 100x × 85%
= 125x - 120 = 85x
= 40x = 120
= x = 3
So, cost price = 100 × 3 = Rs. 300 = Rs. 300