Jitesh sold an article at a loss of 11%. If he had bought the item at 5% less and had sold it for ₹739 more, then he would have gained 20%. Find the cost price (in ₹) of the article.​

Correct option is C

Given:

Jitesh sold the article at a loss of 11%

If Jitesh had bought the item at 5% less and sold it for ₹739 more, he would have gained 20%

We need to find the original cost price (CP) of the article.

Formula Used:

Loss or profit % = $$\frac{Loss \ or \ Profit}{CP}\times 100$$​​

Solution:

The selling price in the first scenario is:

SP1 = CP × 0.89

The new cost price is:

CP2 = CP × 0.95

The new selling price is:

SP2 = SP1 + 739

It will become

SP2 = (CP × 0.89) + 739

Now, the new selling price in terms of the new cost price is:

SP2 = CP2 × 1.20

Substitute CP2 = CP × 0.95:

SP2 = (CP × 0.95) × 1.20

Now equating;

(CP × 0.89) + 739 = (CP × 0.95) × 1.20

CP × 0.89 + 739 = CP × 1.14

739 = (CP × 1.14) − (CP × 0.89)

739 = CP × 0.25 

CP = $$\frac{739}{0.25}$$​ = 2956

The original cost price of the article is ₹2956 

Alternate Solution: 

Now, 114 - 89 unit = 739 

25 unit = 739 

100 unit = $$\frac{739\times100 }{25} = ₹2956$$​​