Niraj incurred a loss of 55 per cent on selling an article for Rs. 9549. What was the cost price of the article?
1). Rs. 27700
2). Rs. 25600
3). Rs. 21220
4). Rs. 29000
Let the CP of an article be x.
Loss% =$\frac{CP-SP}{CP}$
0.55 = $\frac{x-9549}{x}$
0.55 = 1-$\frac{9549}{x}$
x = 9549/(1- 0.55) = 9549/0.45 = 21220.