What is the simple meaning of profit?

Correct answer: Amount left after subtracting total cost from total income

Profit is the positive balance that remains when the total cost of operating a business is subtracted from its total revenue or income. It can be expressed simply as Profit = Total Revenue − Total Cost. For example, if income is ₹10,000 and total cost is ₹7,000, the profit is ₹3,000. Borrowed money, rent alone, and the number of customers are not profit.