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A lady walks into a store and steals a $100 bill from the register without the owner's knowledge. She comes back 5 minutes later and buys $70 worth of goods with the $100 bill. The owner gives her $30 in change.
I wouldn't argue with mathjak107 on that answer, given the information provided.
However, if we change the wording a little we might give even mathjak something entertaining...
A lady walks into a store and steals a $100 bill from the register without the owner's knowledge. She comes back 5 minutes later and pays exactly $100 for two equally priced (taxable) items with the $100 bill. The cost to the owner of one item she bought was $0 - he himself had taken it from a defunct store of his, in which he had declared bankruptcy. The COG (cost of goods) of the other item was $6. His nut (cost of operation on a daily basis, which is included in his markup, is $250 and he has a steady sales volume of $900 per day every day (this one included) with an added sales tax of 11.1% that he collects and properly reports.
How much was stolen from him?
What were his total losses because of the theft and transaction?
Bonus points - when she comes back in, she pays with a different counterfeit $100 bill. How does that change things and why?
Actually, let's assume Mathjak's figures are correct. It's late on Sunday night and I'm really too tired to figure it out myself.
That being said, if the Owner operates on a 10% net, he has actually lost more than $1,000. Because that's how much in sales he'll have to make to compensate for that lost $100.
I had to teach my employees that once. An employee made a $50 mistake and tried to blow it off as if it were no big deal. I pointed out to her that, because I was on an 8% net, that meant it was really a $600 mistake. It was if the light bulb turned on. She was much more careful after that.
MY daughter's Girl Scout Troop learned this lesson the hard way.
They sold cookies for $5 a box. A man bought 4 boxes and paid with a counterfeit $100 bill. They made something like 76 CENTS per box they sold. They had to sell over 130 boxes to make up for that counterfeit bill....
MY daughter's Girl Scout Troop learned this lesson the hard way.
They sold cookies for $5 a box. A man bought 4 boxes and paid with a counterfeit $100 bill. They made something like 76 CENTS per box they sold. They had to sell over 130 boxes to make up for that counterfeit bill....
Good math lesson.
So they lost four boxes valued at cost at $4.24/ea and then $80 in change. They had to sell 128 boxes, actually a bit less but you can't sell a fraction of a box so 128.
Three people check into a hotel room. The clerk says the bill is $30, so each guest pays $10. Later the clerk realizes the bill should only be $25. To rectify this, he gives the bellhop $5 to return to the guests. On the way to the room, the bellhop realizes that he cannot divide the money equally. As the guests didn't know the total of the revised bill, the bellhop decides to just give each guest $1 and keep $2 as a tip for himself. Each guest got $1 back, so now each guest only paid $9, bringing the total paid to $27. The bellhop has $2. And $27 + $2 = $29 so, if the guests originally handed over $30, what happened to the remaining $1?
Three people check into a hotel room. The clerk says the bill is $30, so each guest pays $10. Later the clerk realizes the bill should only be $25. To rectify this, he gives the bellhop $5 to return to the guests. On the way to the room, the bellhop realizes that he cannot divide the money equally. As the guests didn't know the total of the revised bill, the bellhop decides to just give each guest $1 and keep $2 as a tip for himself. Each guest got $1 back, so now each guest only paid $9, bringing the total paid to $27. The bellhop has $2. And $27 + $2 = $29 so, if the guests originally handed over $30, what happened to the remaining $1?
$30 - $2 to Bellhop = $28.
$28 - $3 refund = $25, the correct amount of the bill.
Three people check into a hotel room. The clerk says the bill is $30, so each guest pays $10. Later the clerk realizes the bill should only be $25. To rectify this, he gives the bellhop $5 to return to the guests. On the way to the room, the bellhop realizes that he cannot divide the money equally. As the guests didn't know the total of the revised bill, the bellhop decides to just give each guest $1 and keep $2 as a tip for himself. Each guest got $1 back, so now each guest only paid $9, bringing the total paid to $27. The bellhop has $2. And $27 + $2 = $29 so, if the guests originally handed over $30, what happened to the remaining $1?
27+2=29 but that's irrelevant as it's not what you're asking.you're double counting 2 dollars. by this flawed math there are actually 32 dollars involved.
you should be subtracting 2 from 27 not adding it.
27 was given by the 3 guests- the hotel has 25 and the bellhop stole 2. nothing is missing.
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