KOC's friend is the owner of a golf shop. Each box of Pro V is at cost of $250. And after a profit of $70 added onto it, each box of Pro V is sold at $320. So one day, a customer came in to buy a box, and handed the owner a $500 dollar bill. The owner just went out of change, and had to go over to his neighbor to change the 500 dollar bill into bills of different denominations. So after giving the customer the change, and the customer left, the neighbor came and claimed that the $500 dollar bill was fake. So the owner had to give the neighbor another $500 dollar bill to settle the dispute.
The question is: how much money KOC's friend lost at the end of the day?
$430 , if you want to count lost potential profit of $70 on that particular box of balls , then its $500
I wasn't a math major in college, but would like to think I have a sense of logic, so here goes:
I buy golf balls at $250 wholesale price. These balls end up essentially being "donated" to the customer.
Running total: $250
Customer buys balls for $320 retail, and requires $180 in change. I change out his $500 with my neighbor for smaller bills. I pay $180 of the neighbor's money to the customer, who walks out with my golf balls. This $180 is NOT coming out of MY pocket.
Running total: $250
Turns out the $500 bill is bogus. The $500 I received from the neighbor is, in effect, a $500 loan. I gave $180 of that $500 to the customer in change, leaving me $320 of the neighbor's money I can give back to the neighbor. But I also have to dip into my own funds -- to the tune of $180 -- to pay back the neighbor his full $500.
There are lots of folks telling me the answer of HK$500. They said the shop owner lost the potential profit of $70.
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