By selling an item for Rs.15, a trader loses one sixteenth of what it costs him. The cost price of the item is
Rs.14
Rs.15
Rs.16
Rs.17
Explanation:
SP =15
Loss = $\dfrac{CP}{16}$
Loss = CP - SP = CP - 15
$\Rightarrow \dfrac{CP}{16}$ = CP - 15
$\Rightarrow \dfrac{15 CP}{16}$ = 15
$\Rightarrow \dfrac{CP}{16}$ = 1
$\Rightarrow$ CP = 16