Question

A hat costs $20.
A customer has a 100 dollar bill.
The seller doesn't have change so he gets change from his neighbour.
After the customer leaves, they find out that the $100 was fake.
The seller returns the $100 to the neighbour.
How much money did the seller lose? ​

Answer 1

Answer:

$200.

Is this correct?

This is how I understood-

$20 loss because of hat

$100 loss because he had to give his neighbour

$80 loss because he had to borrow from the neighbour and give the customer

That makes it $200 loss.

Answer 2

The total loss faced by the seller is:

$40.

Explanation:

The correct cost of the hat is $20.

The amount given by the customer is $100.

Therefore,

The amount needed to be returned = $80.

This $80 is given by the neighbor since the seller did not have change.

The 100 dollar bill was fake, when this was understood by the seller he returned the 100 dollar bill to the neighbors.

Therefore,

The actual amount of money the neighbor should have received = $80.

But, they got = $100.

Therefore the amount of loss for the seller=

the hat money+ the 100 dollars given to the neighbor(where he should have got 20)

hence 40 dollars in total he was facing loss.