Let the resistance of the smaller resistor be \( r_1 \) and that of the larger resistor be \( r_2 \).
The balance point in a meter bridge is given by the formula:
\[
\frac{l}{100 - l} = \frac{r_1}{r_2}
\]
where \( l \) is the balance point and \( r_1, r_2 \) are the resistances of the two resistors.
Initially, the balance point is 20 cm, so:
\[
\frac{20}{80} = \frac{r_1}{r_2}
\]
This simplifies to:
\[
\frac{r_1}{r_2} = \frac{1}{4} \quad \text{(1)}
\]
When a 15 ohm resistor is connected in series with \( r_1 \), the new balance point shifts to 40 cm. The total resistance of the smaller side becomes \( r_1 + 15 \). The new equation is:
\[
\frac{40}{60} = \frac{r_1 + 15}{r_2}
\]
This simplifies to:
\[
\frac{r_1 + 15}{r_2} = \frac{2}{3} \quad \text{(2)}
\]
Now, solve equations (1) and (2) together:
\[
\frac{r_1}{r_2} = \frac{1}{4} \quad \text{and} \quad \frac{r_1 + 15}{r_2} = \frac{2}{3}
\]
From equation (1), \( r_1 = \frac{r_2}{4} \). Substitute this into equation (2):
\[
\frac{\frac{r_2}{4} + 15}{r_2} = \frac{2}{3}
\]
Simplifying:
\[
\frac{r_2 + 60}{4r_2} = \frac{2}{3}
\]
Cross-multiply:
\[
3(r_2 + 60) = 8r_2
\]
\[
3r_2 + 180 = 8r_2
\]
\[
180 = 5r_2
\]
\[
r_2 = \frac{180}{5} = 36\ \Omega
\]