A merchant earns a profit of 20% by selling a basket containing 80 apples which cost Rs. 240. But he gives one fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple ?

Options

A. Rs. 3.00
B. Rs. 3.60
C. Rs. 3.80
D. Rs. 4.80