Let Lakshman’s cost price = ₹9,50,000
First sale (Lakshman → Bharath)
Profit = 8%
SP1=9,50,000×1.08=10,26,000
Lakshman receives ₹10,26,000
Second sale (Bharath → Lakshman)
Loss = 3% on ₹10,26,000
SP2=10,26,000×0.97=9,93,220
Lakshman pays ₹9,93,220
Net gain of Lakshman
Cash inflow = ₹10,26,000
Cash outflow = ₹9,93,220
Net gain=10,26,000−9,93,220=32,780
Final Answer: Lakshman makes a profit of ₹32,780