There is no missing £1
You borrowed two times £49 pound = £98, and spend £97 pound, and now have an extra pound to keep for yourself.
You are adding up what you owe, plus what you have which doesnt work, as there is no £100 pound. Once you give them the £1 back if you are adding up what you spent you should either add up 49 +49 = shirt + 1 change or if you are adding up what you borrowed originally that is 50+50 = shirt +3 change
They are two difference equations cleverly put together to make it look like there is a missing pound