Azhar bought a piano for Rs. 12,000; then he spent Rs. 3,500 on repairs and renovation. For the next 3 months, he lent it to a music company at a monthly rent of Rs.1,500. After 3 months, he sold the piano to the same music company for a price of 14,300. Did Azhar make profit or loss in the entire transaction? Select the correct option.
1
Profit of Rs. 2,300
2
Loss of Rs. 1,200
3
Loss of Rs. 2,300
4
Profit of Rs. 3,300