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Math Help - Money exchange

  1. #1
    Junior Member cupid's Avatar
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    Money exchange

    This is the question

    A lady buys goods worth $200 from a shop. (shopkeeper selling the goods with zero profit). The lady gives him $1000 note. The shopkeeper gets the change from the next shop and keeps 200 for himself and returns 800 to the lady. Later the shopkeeper of the next shop comes with the $1000 note saying that its Fake note and takes his money back. How much LOSS did the shopkeeper face?
    My answer is: 1000

    Someone confirm/correct me.
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  2. #2
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    Re: Money exchange

    You are correct, he gives $200 worth of goods away and $800 in change in return for nothing
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  3. #3
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    Re: Money exchange

    The loss would be $200 that is the cost of items lady purchased and left with.
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  4. #4
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    Re: Money exchange

    According to me the loss is of $1000 which is your assumption too as he has also paid the lady $800. If the lady would have given $200 only then the loss would have been it. But the shopkeeper also paid it back to the next shopkeeper.

    Read here
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  5. #5
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    Re: Money exchange

    Quote Originally Posted by LindsayTrop View Post
    According to me the loss is of $1000 which is your assumption too as he has also paid the lady $800. If the lady would have given $200 only then the loss would have been it. But the shopkeeper also paid it back to the next shopkeeper.

    Read here
    I am really sorry you are absolutely right. My apologies.
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