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# abraham bought goods worth rs 50000 and spent rs 7000 on transport and octroi. if he sold the goods for rs 65000, did he make a profit or a loss? how much?

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## Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000 , did he make a profit or a loss? How much?

Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000 , did he make a profit or a loss? How much?

Question

Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000, did he make a profit or a loss? How much?

Open in App Solution

Cost price of the goods = Rs 50000

Money spent on transport and octroi = Rs 7000

Total expenses while buying goods = cost of goods + money spent on transport and octroi

= 50000 + 7000 = Rs 57000

That is, total cost price = Rs 57000

Selling price of the goods = Rs 65000

Since selling price is more than cost price, so there is a profit.

Profit = Selling price − Total cost price

= 65000 − 57000 = Rs 8000

∴ Abraham made a profit of Rs 8000 in this transaction.

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## Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000 , did he make a profit or a loss? How much?

Click here👆to get an answer to your question ✍️ Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000 , did he make a profit or a loss? How much?

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## Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000, did he make a profit or a loss? How much?

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## Abraham Bought Goods Worth Rs 50000 and Spent Rs 7000 on Transport and Octroi. If He Sold the Goods for Rs 65000, Did He Make a Profit Or a Loss? How Much?

Abraham Bought Goods Worth Rs 50000 and Spent Rs 7000 on Transport and Octroi. If He Sold the Goods for Rs 65000, Did He Make a Profit Or a Loss? How Much?

Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000, did he make a profit or a loss? How much?

### SOLUTION

Cost price of the goods = Rs 50000

Money spent on transport and octroi = Rs 7000

Total expenses while buying goods = cost of goods + money spent on transport and octroi

= 50000 + 7000 = Rs 57000

That is, total cost price = Rs 57000

Selling price of the goods = Rs 65000

Since selling price is more than cost price, so there is a profit.

Profit = Selling price − Total cost price

= 65000 − 57000 = Rs 8000

∴ Abraham made a profit of Rs 8000 in this transaction.

Concept: Concepts of Cost Price, Selling Price, Total Cost Price, and Profit and Loss, Discount, Overhead Expenses and GST

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Chapter 13: Profit – Loss - Practice Set 32 [Page 69]

Q 2 Q 1 Q 3

### APPEARS IN

Balbharati Mathematics 6th Standard Maharashtra State Board

Chapter 13 Profit – Loss

Practice Set 32 | Q 2 | Page 69

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Concepts of Cost Price, Selling Price, Total Cost Price, and Profit and Loss, Discount, Overhead Expenses and GST