Abraham bought goods worth ₹ 50,000 and spent ₹ 7000 on transport and octroi. If he sold the goods for ₹ 65,000, did he make a profit or incur a loss? How much?

Abraham bought goods worth ₹ 50,000 and spent ₹ 7000 on transport

1.	Abraham bought goods worth ₹ 50,000 and spent ₹ 7000 on transport and octroi. If he sold the goods for ₹ 65,000, did he make a profit or incur a loss? How much?
Answer» SOLUTION :ABRAHAM MADE a PROFIT of ₹ 8000.