Albert sells a cycle to Ben at a profit of 20% & Ben sells it to Cindy at a profit of 25%. If Cindy pays $1500, what did Albert pay for it?
This is how I tried:
Let Cost Price (C.P.) of Albert be 100
Profit Percentage of Albert=20%
So Selling Price (S.P.) of Albert (to Ben)=100+(20% of 100)=120
Profit Percentage of Ben=25%
So S.P. of Ben (to Cindy)=120+(25% of 120)=150
Now how do I proceed ahead?