Math Problem Statement

A women came to bakery shop and buy a cake which Cost Price was ₹150 but the shopkeeper sell the cake to the women at ₹200. The women gave a ₹500 note to the shopkeeper but the shopkeeper doesn't have change so the shopkeeper ask his neighbour for ₹500 change and the neighbour gave him 5 notes of ₹100 and the shopkeeper give ₹500 note to his neighbour and return the women ₹300. After some time the neighbour came and say that the note of ₹500 was fake and he return it to the shopkeeper and take ₹500 from the shopkeeper. Hence how much loss did the shopkeeper get?

Solution

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Math Problem Analysis

Mathematical Concepts

Basic Arithmetic
Profit and Loss

Formulas

Total Loss = Cost of Cake + Change Given to Woman + Amount Returned to Neighbor

Theorems

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Suitable Grade Level

Grades 6-8