Abraham bought goods worth Rs 45,000 and spent Rs 5000 on transport
and octroi .If he sold the goods for Rs 60,000,did he make a profit or loss?
How much?
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Answer:
Cost price of the goods=Rs.45,000
Money spent on transport and octroi=Rs.5,000
Total expenses while buying goods=cost of goods+money spent on transport and octroi.
=Rs.45,000+Rs.5,000
=Rs.50,000
That is, total cost price=Rs.50,000
Selling price of the goods=Rs.60,000
Since selling price is more than cost peice, so there is a profit.
Profit=Selling price-Total cost price
=Rs.60,000-Rs.50,000
=Rs.10,000
⟩⟩Abraham made a profit of Rs.10,000 in this transaction.
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