prpblem solving

A customer enters a store & purchases slippers for $5, paying for the purchase with $20 bill. The merchant, unable to make change, ask the grocer next door to change the bill. The merchant then gives the customer the slippers & $15 change. After the customer, leaves the grocer discovers that the $20 bill is counterfeit & demands that the shoe store owner make good on it. The shoe store owner does so, & by law is obligated to turn the counterfeit bill over to the FBI. How much does the shoe store owner lose in this transaction?

  1. 👍
  2. 👎
  3. 👁
  4. ℹ️
  5. 🚩
  1. I think he lost $20 + the cost of the slippers. Or is this a trick question?

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩
  2. Suppose the merchant has only a $20 bill in his till. The customer comes in with the (counterfeit) $20, goes next door to the grocer and then gets, let's say, four $5 bills. He comes back and gives the customer three of those for his $15 change and then puts the fourth $5 bill in his till. This means, right now he is up $5 for $25 in his till. Later, the grocer next door comes in with the counterfeit bill and the merchant must give him $20, leaving $5 in his till. Considering he SHOULD have $25 in the cash register, I agree that he is out $20 [plus the cost of buying the slippers].

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    The Expression shown can be used to calculate the amount of money in dollars a grocery store customer should receive in change when paying with a $100. 100-(15+10+3(2)+5(3)+4) What amount of change in dollars should the customer

  2. math

    The line plot shows the weights of packages of meat available at a supermarket. Katrice says that if a customer purchases the 3 3 lightest packages at a cost of $4.40 per pound, the customer will pay 10.45 . Is Katrice correct?

  3. Algebra

    A garden store has the following miscellaneous bulbs in a basket: 5 amaryllis 6 daffodils 4 lilies 3 tulips A customer bought 4 bulbs from the basket, one of each type of flower. If the next customer selects 1 of the remaining

  4. Math

    To determine what effect the salespeople had on purchases, a department store polled 700 shoppers as to whether or not they had made a purchase and whether or not they were pleased with the service. Of those who had made a

  1. algebra

    You are an entrepreneur and selling handmade kites. Your company Kites-R-Fun has been contacted by a customer in Alaska who wants to purchase several of your best-selling kites and wants you to ship them to her. You have already

  2. Math

    A customer buys for products priced at $18 $22 $35 and $40 from the same store the customer returns the most expensive product and gets a refund for that one pot out how much money did the customer end up spending at that store

  3. math

    Which of the following scenarios represents a possible impulse purchase? Bryce researches interest rates on the purchase of a new car before deciding to make a purchase. Bryce purchases the car of his dream by financing the entire

  4. MATH

    From experience, the manager of Kramer's Book Mart knows that 50% of the people who are browsing in the store will make a purchase. What is the probability that among ten people who are browsing in the store, at least two will

  1. C++

    A small business wants to create a file to store its customer information. Each record in the file is to contain the following data: customer ID number, first name, last name, city, zip code, and account balance. Write a program

  2. mathematics

    the expression shown can be used to calculate the amount of money in dollars in dollars grocery store customer should reserve in change when paying with $509 50-(14+12+2+(5)+2(2)+3)


    Write a pseudocode that will accept items bought by a customer and place them in the appropriate class based on amounts calculated for the bill. Discounts are applied as follows: Silver – 1% Gold – 5% Platinum – 10% Tax on

  4. mathematics

    How many different ways could you choose three pants to pack for a weekend trip, if you have 12 pants to choose from? Assume the pants are selected without replacement. a. 12! / 3! b. 12! / 9! c. 12! / 8!⋅4! c. 12! / 9!⋅3! If

View more similar questions or ask a new question.