Experts please help me solve this
I own a shop. One day a man buys buys an arrival worth ?100. That man gives me a ? 500 note. Since I did not have a change I decided to exchanged that note for four ? 100 notes with my neighbour which I did. I gave that man his change along with his article and then he left. Later that day my neighbour came and said that the note was fake. I gave back his money. What is my loss ?
Pls solve urgently pls
Dear Student,
Since the 500 Rupee note given by the buyer was fake the seller lost 100 Rs. on the article first.
The seller had to exchange the 500 Rupee not for five 100 Rupee note with this neighbour so that he could keep the 100 Rupee for article and could return the balance 400 Rupees to the buyer. Finally, he returned Rs. 500 to the neighbour of his.
So his total loss would be 100+400-100+500 = 900 Rs. (-100 came because the seller retained a 100 Rupee not for himself)
Regards