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A whe woman buys a 78$ necklace at a jewellery store. She gives the jeweler a cheque for 100 $ because he does not have the 22$ change on hand. He goes to another merchant next door. There he exchanges the woman's cheque for 100$ in cash. He returns and gives the woman the necklace and her chnage. Later the cheque bounces and he must make it good to the other merchant. He originally paid 39$ for the necklace. What is his total out of pocket loss?
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Why would the woman write the check for $100 instead of the $78 the necklace cost?

I wouldn't go to a store and buy something for $10 and write a check for $100 so I could get $90 in change. No store around here would allow it!

Anyway, he had to pay the other merchant $100, he gave the woman $22, and the necklace cost him $39.
Comments  
I'd say 22+39=$61.
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 BarbaraPA's reply was promoted to an answer.
Grammar GeekWhy would the woman write the check for $100 instead of the $78 the necklace cost?

I wouldn't go to a store and buy something for $10 and write a check for $100 so I could get $90 in change. No store around here would allow it!

Anyway, he had to pay the other merchant $100, he gave the woman $22, and the necklace cost him $39.

He just returned the $100 (well, except the $22), he didn't have to "pay" it. No wonder we're in a recession. Emotion: smile
39+22+100-78=83
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Money Paid Out = $39 for necklace, $22 in change to woman, $100 to merchant. That is a total of $161.

Money Recieved = $100 from the merchant

Paid out - Recieved (161 - 100) = Total loss of $61

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