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Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?
Correct answer is '23'. Can you explain this answer?
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Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollar...
(cost price + change given).
Most Upvoted Answer
Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollar...
Given:
- Ram buys a cycle for $31.
- Ram is given a cheque of amount $35.
- The shopkeeper exchanges the cheque with his neighbor.
- The cost price of the cycle is $19.
To find:
- The profit or loss for the shopkeeper.
Explanation:
Step 1: Calculating the Profit/Loss on the Sale of the Cycle
The cost price of the cycle is $19, and Ram buys it for $31. To calculate the profit or loss on the sale of the cycle, we subtract the cost price from the selling price.
Selling price - Cost price = Profit/Loss
$31 - $19 = $12 (Profit)
Step 2: Calculating the Amount Paid to the Neighbor
The shopkeeper exchanges the cheque worth $35 with his neighbor, but the cheque bounces after 2 days. So, the shopkeeper has to pay the amount to his neighbor.
The shopkeeper pays his neighbor $35.
Step 3: Calculating the Total Profit/Loss for the Shopkeeper
To calculate the total profit or loss for the shopkeeper, we need to consider the profit/loss on the sale of the cycle and the amount paid to the neighbor.
Total Profit/Loss = Profit/Loss on the Sale of the Cycle - Amount Paid to the Neighbor
Total Profit/Loss = $12 - $35
Total Profit/Loss = -$23
Conclusion:
The shopkeeper incurs a loss of $23.
- Ram buys a cycle for $31.
- Ram is given a cheque of amount $35.
- The shopkeeper exchanges the cheque with his neighbor.
- The cost price of the cycle is $19.
To find:
- The profit or loss for the shopkeeper.
Explanation:
Step 1: Calculating the Profit/Loss on the Sale of the Cycle
The cost price of the cycle is $19, and Ram buys it for $31. To calculate the profit or loss on the sale of the cycle, we subtract the cost price from the selling price.
Selling price - Cost price = Profit/Loss
$31 - $19 = $12 (Profit)
Step 2: Calculating the Amount Paid to the Neighbor
The shopkeeper exchanges the cheque worth $35 with his neighbor, but the cheque bounces after 2 days. So, the shopkeeper has to pay the amount to his neighbor.
The shopkeeper pays his neighbor $35.
Step 3: Calculating the Total Profit/Loss for the Shopkeeper
To calculate the total profit or loss for the shopkeeper, we need to consider the profit/loss on the sale of the cycle and the amount paid to the neighbor.
Total Profit/Loss = Profit/Loss on the Sale of the Cycle - Amount Paid to the Neighbor
Total Profit/Loss = $12 - $35
Total Profit/Loss = -$23
Conclusion:
The shopkeeper incurs a loss of $23.
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Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer?
Question Description
Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer?.
Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer?.
Solutions for Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant.
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Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer?, a detailed solution for Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? has been provided alongside types of Ram buys a cycle for 31 dollars and given a cheque of amount 35 dollars. Shop Keeper exchanged the cheque with his neighbor and gave change to Ram. After 2 days, it is known that cheque is bounced. Shop keeper paid the amount to his neighbor. The cost price of cycle is 19 dollars. What is the profit/loss for shop keeper?Correct answer is '23'. Can you explain this answer? theory, EduRev gives you an
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