Question

A cyclist buys a cycle for 30 pound paying with a 60 pound cheque. The seller change the cheque next door and give the cyclist change. The cheque
bounces so the seller paid his neighbour back. The cycle cost the seller paid his neighbour back the cycle cost the seller 23 pounds. How much did
the seller lose?
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Answer 1

Given :- A cyclist buys a cycle for 30 pound paying with a 60 pound cheque. The seller change the cheque next door and give the cyclist change. The cheque bounces so the seller paid his neighbour back. The cycle cost the seller paid his neighbour back the cycle cost the seller 23 pounds. How much did the seller lose ?

Solution :-

→ CP of cycle for seller = 23 pounds

→ SP of cycle = 30 pounds

so,

→ Profit made by seller on cycle = SP - CP = 7 pounds .

now,

→ Cheque given by cyclist = 60 pounds

and,

→ SP of cycle = 30 pounds

so,

→ Amount given back to cyclist = 60 - 30 = 30 pounds .

therefore,

→ Total loss = CP of cycle for seller + Amount given back = 23 + 30 = 53 pounds (Ans.)

or, we can say that, first the seller spent 23 pounds to buy the cycle and then he has given cyclist 30 pounds back . That will be his total loss .

therefore

→ Total Loss = 23 + 30 = 53 pounds (Ans.)

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