Abraham bought good worth rupee 50000 and spent rupee7000 on transport and octroi .if he sold the good for ruppe 65000 ,did he make a profit or a loss? How much? Formula
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Answer:
Step-by-step explanation:
Cost price
= Purchase price + other expenses
CP = 50000+7000 = Rs. 57000
SP = Rs. 65000
Here, SP > CP
Therefore,
Profit = SP - CP
= 65000 - 57000
= Rs. 8000
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