Bola sold a shirt at the rate of naira and made a profit of 25% what was the cost price
To solve the problem, we need to use the formula for calculating profit:
Profit = Selling Price - Cost Price
We know that Bola sold the shirt at the rate of naira, which is the selling price. We also know that the profit was 25% of the cost price. Let's represent the cost price as x.
Profit = 0.25x
Selling Price = naira
Using the formula for profit, we can write:
0.25x = naira - x
Simplifying the equation, we get:
1.25x = naira
Dividing both sides by 1.25, we get:
x = naira / 1.25
x = naira
Therefore, the cost price of the shirt was naira.