Mr. Nelson's Shoes Mr. Nelson manages a shoe store. One day a man came into the store right after it opened and before Mr. Nelson had a lot of change in the register. The man purchased a pair of shoes that cost $80 and gave Mr. Nelson a $100 bill. Mr. Nelson did not have change, so he went next door and exchanged the $100 for five $20 bills. He gave the customer his shoes and $20 in change. Later, the cashier next door heard there were some counterfeit bills being passed, so she asked Mr. Nelson for five $20 bills, which Mr. Nelson now had, in trade for the $100 bill. Shortly after that the police arrived and determined that the $100 bill was counterfeit and confiscated it. Who lost money? How much money?

Question

Mathematics

Madeline Wilkins

9 December, 06:29

Mr. Nelson's Shoes Mr. Nelson manages a shoe store. One day a man came into the store right after it opened and before Mr. Nelson had a lot of change in the register. The man purchased a pair of shoes that cost $80 and gave Mr. Nelson a $100 bill. Mr. Nelson did not have change, so he went next door and exchanged the $100 for five $20 bills. He gave the customer his shoes and $20 in change. Later, the cashier next door heard there were some counterfeit bills being passed, so she asked Mr. Nelson for five $20 bills, which Mr. Nelson now had, in trade for the $100 bill. Shortly after that the police arrived and determined that the $100 bill was counterfeit and confiscated it. Who lost money? How much money?

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Answers (1)

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Gillian Duncan · Answer 1

Nelson lost the money.

He lost the $100 which was confiscated and the $20 bills that he gave to the customer.

So he lost $120.

He also lost a pair of shoes.