Mohit sells a table at a profit of 25%. If he reduces its selling price by Rs 240, then he suffers a loss of 5%. What was the initial selling price (in Rs) of the table?

Let cost price = Rs. $$100x$$

Profit % = 25%

=> Selling price = $$100x+\frac{25}{100}\times100x=Rs.$$ $$125x$$

If he reduces its selling price by Rs 240, then new Selling price = Rs. $$(125x-240)$$

Now, loss % = $$\frac{(C.P.-S.P.)}{C.P.}\times100$$

=> $$\frac{100x-(125x-240)}{100x}\times100=5$$

=> $$240-25x=5x$$

=> $$5x+25x=30x=240$$

=> $$x=\frac{240}{30}=8$$

$$\therefore$$ Initial selling price = $$125\times8=Rs.$$ $$1000$$

=> Ans - (B)