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Question

A particular shop sells goods at cost. A person buys goods worth Rs.60 from the shop and gives the shopkeeper a Rs.100 note. As the shopkeeper does not have change to give his customer, he exchanges this Rs.100 note for 6 Rs.10 notes and 2 Rs. 20 notes from the bank to settle accounts with the customer. The next day, the banker returns the Rs.100 note claiming it to be a counterfeit and takes two Rs.50 notes from the shopkeeper. If the note was actually a counterfeit, what is the total loss to the shopkeeper? 
  1. Rs. 80
  2. Rs. 200
  3. Rs. 130
  4. Rs. 70
  5. Rs. 100


Solution

The correct option is E Rs. 100

The shopkeeper has lost Rs.100 only. The entire transaction can also be viewed as the shopkeeper getting a counterfeit Rs.100 note against which he has given goods worth Rs.60 and change worth Rs.40.

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