Really weird math problem...multiple answers?

Question

Okay, so here's the problem. There's this guy (say James) who paid $15 to manufacture for a shoe. When he receives the pair of shoes, he has it marked to be sold at $21. So this customer (say Bob) comes with a counterfeit money of $50. Not knowing the the $50 is counterfeit James goes to his next door shop neighbor (say Mark) to get some change he James basically exchanges his counterfeit $50 for real $50. The James gives his customer Bob his change and the shoes. Later, the next day, Mark comes back to James to ask for a real $50 back when he (Mark) realized that the money was fake. How much money did James lose?

I think the answer is $94 but I also got a whole lot of other answers so I don't know. Please give your answer and an explanation.

Much thanks ^^

Answer 1

Well, it depends if you count his potiental profit as a loss or not because he could have had $6 profit on the shoes but didnt...

lets see here.

Im going to think by typing:

Paid $15

Cash: -$15

Change of $21 = $29

Cash: -$44

I'd have to say he lost $44, but it also depends if you want to count the profit or not

Answer 2

$44... and his dignity

$15 is what he paid the manufacturer for the shoe... and $29 he gave the purchaser his change.

He didnt lose anything else. The shoe is gone... but he still has the counterfeit 50 (which, by the way, has no value).

James never gained nor lost a real $50. He tried to fraud his neighbor, but then gave it back. His neighbor gained and lost nothing, and James has the same fake 50 he started with.

Answer 3

James paid $15 to have the shoe manufactured.
He then gave $29 in change to his customer, keeping $21.
He then had to make good on the fake $50.

His net gain is -15 - 29 + 21 - 50 = -73
(loss of $73)

Answer 4

He lost $15 when he bought the shoes.
He lost $29 in change that he gave to Bob.
He lost $50 that he had to give back to Mark when Mark discovered the fake money.

So, he lost a total of $94 (15+29+50).

Answer 5

think of it this way

MARKS LOSSES
- 15 $ to make the shoe
MARKS GAINS
+ 21 dollars selling the shoe.

you follow? yes. k. then
a guy comes in and gives him a 50, forget that it is counterfeit and add that to his gains.
he trades the 50 with another owner, so he must give it away (put minus 50 in his losses) but then he gets another one back (another plus 50 for his gains)
so now it looks like this.

MARKS LOSSES
- 15 $ to make the shoe
- 50 $ to other shop owner
MARKS GAINS
+ 21 dollars selling the shoe.
+ 50 dollars from customer
+ 50 dollars (trade from other owner)

Don't forget that the customer gave mark a 50 but the shoes were only 21 so he must give change back
so he will have a loss of 29 $ (the change)
put that in the chart

MARKS LOSSES
- 15 $ to make the shoe
MARKS GAINS
+ 21 dollars selling the shoe.

you follow? yes. k. then
a guy comes in and gives him a 50, forget that it is counterfeit and add that to his gains.
he trades the 50 with another owner, so he must give it away (put minus 50 in his losses) but then he gets another one back (another plus 50 for his gains)
so now it looks like this.

MARKS LOSSES
- 15 $ to make the shoe
- 50 $ to other shop owner
- 29 $ giving change to customer
MARKS GAINS
+ 21 dollars selling the shoe.
+ 50 dollars from customer
+ 50 dollars (trade from other owner)

tally up mark's total now.

21 + 50 + 50 - 15 - 50 - 29 =


Okay, now remember that it was fake money that he traded with the other owner and he must now give it back.

he lost 50

subtract 50 from mark's tallied total

27 - 50 = -23

so he is 23 dollars in the negative.