A man runs a bicycle shop, one day a tourist, came to his shop and bought a bicycle from him for $350. The cost price of the bicycle was $300. So the seller was happy that he had made a profit of $50 on the sale. However, at the time of selling the bill, the tourist offered to pay in cheques as he have no money with him. The seller hesitated. He had no arrangement with the banks to encash cheques. But he remembered that the shopkeeper next door has such a provision, and so he took the cheques to next door and got cash from him. The cheques were all of $100 each and so he had taken four cheques from the tourist total to $400. On encashing them seller pair back the tourist the balance $50.
The tourist happily took the bicycle.
However, the next morning the neighbour, who had taken the cheques to the bank, called on him and returned the cheques which had proved valueless and demanded the refund of his money. so he quietly refunded the money to his neighbour. He tried to the tourist, But tourist could not be found.
How much did the bicycle shopkeeper lose altogether in this unfortunate transaction
Neighbour - $400
ReplyDeleteTourist - $350 (Original bike cost + amout returned by shop keeper)
Total = $750 ($400 + $350)
@Gopalakrishnan Sorry wrong answer
ReplyDelete300 $
ReplyDelete@Pratheep No again wrong answer
ReplyDeleteThis comment has been removed by the author.
ReplyDelete$350
ReplyDeleteThis comment has been removed by the author.
ReplyDelete@kannadhasan great!
ReplyDelete@Saravanan: How $350 is the correct answer and not $750?
ReplyDelete@Gopalakrishnan
ReplyDelete1) The shop keeper returned the $400 borrowed from the neighbour, so we should not take in to account
2) The actual cost of the bicycle is $300
3) The amount given to the tourist is $50
so total amount lost is $350
@Saravanan: Yeah correct. Thanks.
ReplyDeletethanks
ReplyDeleteI think the money lost = the money stolen by the theif So it's should be $350
ReplyDeleteBut additionally 50 ruppes extra refunded to the neighbour So total is $400