Stop foolingπŸ˜‚
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HOW SMART ARE YOU?

Jake walked into a store and stole Ghc100 note from the register without the owner’s knowledge. He then bought Ghc70 worth of goods using the Ghc100 note and the owner gave him Ghc30 in change. How much did the owner lose?
Anonymous Quiz
12%
30
2%
50
8%
70
38%
100
2%
150
10%
170
27%
200
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Stop foolingπŸ˜‚
HOW SMART ARE YOU?

Jake walked into a store and stole Ghc100 note from the register without the owner’s knowledge. He then bought Ghc70 worth of goods using the Ghc100 note and the owner gave him Ghc30 in change. How much did the owner lose?
The best answer from the choices is the owner lost Ghc100. The Ghc100 bill that was stolen was then given back to the owner. What the owner loses is the Ghc70 worth of goods and the Ghc30 in change, which makes for a total of Ghc70 + Ghc30 = Ghc100. The owner has lost Ghc100.

Technically, the owner lost Ghc30 plus the value, V, of the Ghc70 of goods. Since stores typically sell goods at a markup, the value may be less than Ghc70. But in the case of a loss leader, the owner may have lost more than Ghc70.

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