A lady buys goods worth rs.200
from a shop. (shopkeeper selling the goods
The lady gives him 1000 rs note.
The shopkeeper gets the change from
and keeps 200 for himself and
to the lady.
Later the shopkeeper of the next
with the 1000rs note
and takes his money back.
"How much LOSS did the
shopkeeper face ?"
1 Answer | Add Yours
To calculate the loss incurred by the shopkeeper let us go step by step and see the loss faced by him at each point of transaction.
- First, the shopkeeper sells the goods for 200 rupees, at zero profit. He gets a 1000 rupee note from the lady in exchange. This money, being fake, has no value, so the shopkeeper is actually at a loss of 200 rupees.
Total loss incurred at this point: 200 rupees.
- He then goes to the other shopkeeper, gives him 1000 rupee note, and gets back 1000 rupees as change. The first shopkeeper has exchanged the note worth 0 rupees for change worth 1000 rupees. So he is 1000 rupees richer. He is also at a loss of 200 rupees. This puts him at a profit of (1000-200)=800 rupees.
Total loss incurred at this point: -800 rupees; i.e. the shopkeeper is at a profit of 800 rupees.
- The first shopkeeper returns to the lady, and gives her 800 rupees. He is down 800 rupees, and is left with 200 rupees. The cost price of the goods is 200 rupees, and right now he has 200 rupees, so he's at zero loss.
Total loss incurred at this point: 0
- The other shopkeeper realizes that the note he got is fake, and demands his money back. The first shopkeeper gives him 1000 rupees. He was at zero loss before this.
Total loss incurred at this point: 1000 rupees.
Therefore, the shopkeeper faces a loss of Rs.1000.
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