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IAS Exam Question - Shopkeeper And Lady With Fake Note


A lady buys goods worth rs.200 from a shop. (shopkeeper selling the goods with zero profit).
The lady gives him 1000 rs note. The shopkeeper gets the change from the next shop and keeps 200 for himself and returns rs.800 to d lady.

Later the shopkeeper of the next shop comes with the 1000rs note saying "duplicate" and takes his money back.

"How much LOSS did the shopkeeper face ?"

A. 200
B. 800
C. 1200
D. 1800
E. 2000
F. 1600
G. 1000

Answer

Transaction 1 (Lady and Shopkeeper 1)

L--> S1  Rs. 1000fake
S1--> L Rs. 200 goods + Rs. 800 change

S1's loss:  Rs.200 goods+ Rs.800 change - Rs. 1000fake= Rs.1000

Transaction 2 (Shopkeeper 1 and Shopkeeper 2)

S1--> S2 1000fake; S2-->S1 1000change
S2-->S1  1000fake; S1-->S2 1000change

Point to be noted here is that Transaction 2 is a circular transaction and hence S1 does not face any loss from this transaction. He is simply returning the Rs.1000 he had borrowed from S2

So the only loss he has is from Transaction 1= Rs. 1000


Comments

  1. Excellent post. You have shared very useful source to who all have an aim to become an IAS officers. Thank you.

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    ReplyDelete
  2. You are not receiving money + product from customer that is also loss for the shopkeeper.
    So 1000 + product(200) + 800(change to customer) = 2000 loss

    ReplyDelete
  3. What u said is good but here's my explanation. Lady bought goods worth rs 200 and gave 1000rs note to shopkeeper since the "shopkeeper was not having change". he took change from other shopkeeper and gives back 800 rs to the lady and putted 200 rs of goods in his pocket.now other shopkeeper came back and said give me back my 1000rs coz this is a fake note.. now as the question says shopkeeper isn't having changes and as per my explanation he gave 800rs of other shopkeeper to the lady and keot 200 to himself.. now he's not having changes to add 800 rs with remaining 200 to give other shopkeeper so he had to give a 1000 rs note to the other shopkeeper. So ultimately he lost 800+1000=1800

    ReplyDelete

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