A man steals 1000 from a shop, spends 700 in the same shop and gets 300 change .Now how much did the shop owner lose??
The correct answer and explanation is:
The shop owner lost a total of 1000. Here’s why:
- Theft of 1000: The man steals 1000 from the shop. At this point, the shop owner loses 1000 in cash.
- Spending 700 in the shop: The thief spends 700 of the stolen money in the shop. This means that the shop receives 700 back, but the shop still loses the 700 worth of goods that the thief purchases. Essentially, the stolen money has returned, but the shop owner loses goods valued at 700.
- Change of 300: After spending 700, the thief receives 300 in change. This is actual cash, which further reduces the shop’s losses by 300.
At the end of this transaction, the shop owner loses:
- 700 worth of goods (due to the stolen money being spent)
- 300 in cash (the change given to the thief)
- The initial 1000 that was stolen.
Thus, the total loss to the shop owner is:
700 (goods) + 300 (cash) = 1000
In total, the shop owner loses 1000. Even though part of the stolen money comes back in the form of purchases, the shop loses goods and cash that are equivalent to the original amount stolen. Therefore, the total financial loss for the shop owner is 1000.