Test your college education while you wait..

[mt85]

Store owner (A) bought a gadget for $15 and marked it for sale at $20. A man came in and bought the gadget with a $100 bill. The owner did not have enough change, so he went next door to store owner (B) to break it. He came back and sold the gadget to the man for $20.

Later, store owner (B) came back and showed store owner (A) that the $100 bill was fake. Store owner (A) had to give him $100 real dollars for the fake bill.

Question:

What was the total loss incurred by store owner (A) ?

 

[jtdoyle1]

$15 for gadget+$80 channge to customer+$100 to other store owner=$195 loss

 

[thunderdave]

My answer is .....








$195?

 

[billpickles]

His total loss was $95

 

[chadm]

$115 I hope

 

[ceeboe]

My answer is .....

$195?

thats my guess.

 

[Cyclone06]

$115?????

 

[cyclonekj]

$95. $80 in change and $15 in product.

 

[Todd]

$95......$100 to owner B less his $5 mark-up.

 

[Cyclone06]

$85 in change and $15 in product.

Is that not $100?

 

[amyk33]

i come up with $195.

$15 for the product, $80 in change to the customer, $100 to cover the fake bill.

 

[JokersWild]

Get's 100 real dollars from B. Give buyer $80 change. So, he's in the hole $80. Plus the $15 he bought the item for. then he has to give B another $100. So, I'll go with $195 as well.

 

[chadm]

I agree with clonekj.. $95 can I swithch my answer....not a math major.

 

[billpickles]

Gave $15 for product. Had $20 left over after giving $80 change. Gave $100 to next door store owner. -15-100 = -115 + 20 = -95. The other $100, all he did was pass a fake bill from the customer to the next door owner, no cost to him involved.

 

[C.John]

$180

$80 in change, $100 to cover fake. But he pocketed one real twenty during the transaction of the item, so that covered the cost of the item.

 

[amyk33]

$180

$80 in change, $100 to cover fake. But he pocketed one real twenty during the transaction of the item, so that covered the cost of the item.

huh? where does the real $20 come from?

 

[Cyclone06]

Can we get an answer? I'm beginning to question the quality of education offered at Iowa State.

 

[yCy]

$80 in change + $100 to owner B - $5 profit= $175 in loss

 

[tejasclone]

$95

He lost $15 for purchasing the item, didn't lose anything by exchanging his $100 for change, made a $5 profit, then lost $100 to B = $95 loss

 

[jtdoyle1]

Please give the answer and end this. I'm starting to go mad with anticipation.