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One easy maths question to all of you; try solving it xD

Peter borrowed $50 from Jane and John each. So he now has $100. He then spent $97 on a pair of sport shoes. He is left with $3 aftermath. He uses the remaining money to return to both Jane and John $1 each and is left with $1 for himself now. Now he owes both Jane and John $49 each but when it only amounts to $98 and including the $1 he has, it's $99. Why is he still short of $1 from the orignal amount he has?

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