Originally posted by: AnnihilatorX
It's said 9 out of 10 uni students get this wrong
Don't spoil if you have came across this:
Mr. Anderson is a shopkeeper at a local town. He was selling a product to Mr. Brown. The product has a marked price of $21 while the cost price of it is $18. Mr. Brown decided to buy it with his $100 note. Unfortunately Mr. Anderson ran out of change. He swapped the $100 bank note for some change in a neigbour shop. He gave the Mr. Brown the correct change and Mr. Brown left.
Soon the neighbour shopkeeper realised the banknote is a counterfiet. Our Mr. Anderson had no choice but to pay his neigbour $100.
How much in total had our poor Mr. Anderson lose?
*Marked price - The price tag of the product to customers
*Cost price - The per unit cost of the product bought from the wholeseller to the shop
Corrected. Lol sorry apparently I didn't proof read my writing. Sorry for the confustion :/
Originally posted by: Kyteland
The answer is $97 folks. There are 3 people involved and it is a closed system. No money is added or lost to it.
The second shopkeeper comes out of the deal with no change. He didn't gain or lose any money.
The customer comes out of the deal +$18 item +$79 in change -$0 counterfit bill for a net gain of $97
$0+$97+$x = 0
Solve for x and the guy lost $97
Originally posted by: huesmann
I guess British people can't write English either.
Originally posted by: Glavinsolo
Originally posted by: AnnihilatorX
It's said 9 out of 10 uni students get this wrong
Don't spoil if you have came across this:
Mr. Anderson is a shopkeeper at a local town. He was selling a product to Mr. Brown. The product has a marked price of $21 while the cost price of it is $18. Mr. Brown decided to buy it with his $100 note. Unfortunately Mr. Anderson ran out of change. He swapped the $100 bank note for some change in a neigbour shop. He gave the Mr. Brown the correct change and Mr. Brown left.
Soon the neighbour shopkeeper realised the banknote is a counterfiet. Our Mr. Anderson had no choice but to pay his neigbour $100.
How much in total had our poor Mr. Anderson lose?
*Marked price - The price tag of the product to customers
*Cost price - The per unit cost of the product bought from the wholeseller to the shop
Corrected. Lol sorry apparently I didn't proof read my writing. Sorry for the confustion :/
Shopkeeper paid:
$100 to Neighbor (Justify the mistake of the counterfeit)
$79 to Conterfeiter (Brown gets clean $79)
$18 loss of product (Product)
=$197
Originally posted by: Glavinsolo
Originally posted by: AnnihilatorX
It's said 9 out of 10 uni students get this wrong
Don't spoil if you have came across this:
Mr. Anderson is a shopkeeper at a local town. He was selling a product to Mr. Brown. The product has a marked price of $21 while the cost price of it is $18. Mr. Brown decided to buy it with his $100 note. Unfortunately Mr. Anderson ran out of change. He swapped the $100 bank note for some change in a neigbour shop. He gave the Mr. Brown the correct change and Mr. Brown left.
Soon the neighbour shopkeeper realised the banknote is a counterfiet. Our Mr. Anderson had no choice but to pay his neigbour $100.
How much in total had our poor Mr. Anderson lose?
*Marked price - The price tag of the product to customers
*Cost price - The per unit cost of the product bought from the wholeseller to the shop
Corrected. Lol sorry apparently I didn't proof read my writing. Sorry for the confustion :/
Shopkeeper paid:
$100 to Neighbor (Justify the mistake of the counterfeit)
$79 to Conterfeiter (Brown gets clean $79)
$18 loss of product (Product)
=$197
Originally posted by: Glavinsolo
Shopkeeper paid:
$100 to Neighbor (Justify the mistake of the counterfeit)
$79 to Conterfeiter (Brown gets clean $79)
$18 loss of product (Product)
=$197
Originally posted by: Amused
Originally posted by: Glavinsolo
Shopkeeper paid:
$100 to Neighbor (Justify the mistake of the counterfeit)
$79 to Conterfeiter (Brown gets clean $79)
$18 loss of product (Product)
=$197
I'm still trying to figure out where you people are coming up with an extra $100.
The change he handed the man was his neighrbors money. He simply owes his neighbor $100. He lost nothing of his own except an $18 item, but he kept $21 of his neighbor's money.
That makes $97 he's out. $100 if you count his lost profit as a loss as well (I would).
Originally posted by: royaldank
This is like the bellhop riddle.
Three guys pay for a $150 room with a $50 bill each. Shopkeeper decides he overcharged $5 and sends it up with the bellboy. He tells the guys and shows them the $5. They decide to each take $1 from the bellboy and let him have the extra $2. So, each guy paid $49 which equals $147. Now, add the $2 the bellboy has in his pocket and that's only $149. Where's the extra dollar.
Originally posted by: Glavinsolo
Originally posted by: Amused
Originally posted by: Glavinsolo
Shopkeeper paid:
$100 to Neighbor (Justify the mistake of the counterfeit)
$79 to Conterfeiter (Brown gets clean $79)
$18 loss of product (Product)
=$197
I'm still trying to figure out where you people are coming up with an extra $100.
The change he handed the man was his neighrbors money. He simply owes his neighbor $100. He lost nothing of his own except an $18 item, but he kept $21 of his neighbor's money.
That makes $97 he's out. $100 if you count his lost profit as a loss as well (I would).
He has to eat the conterfeit bill twice.
Which totals $200
$79 goes to conterfeiter
$100 goes to neigbor
I'm changing my answer to $179