A tricky Math(s) problem
Mar 30, 2022 10:24:15 #
[quote=twosummers]A man buys a goat for $60.
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Profit made: $0.00
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Profit made: $0.00
Mar 30, 2022 10:24:53 #
Mar 30, 2022 10:26:54 #
Mar 30, 2022 10:27:05 #
Mar 30, 2022 10:33:07 #
He was in Jamaica and after buying the goat back he made 'jerk goat' on his BBQ and sold it with rice and beans for $10.00 a plate making him $500.00 which he spent on Ganga and now he has nothing but a smile.😜
Mar 30, 2022 10:36:19 #
hankm1 wrote:
The guy had $60 in his pocket before the first buy.
That's all the money he had in the world.
After the last sale he had $90 in his pocket.
Sounds like a $30 profit to me.
Of course the IRS will want to know if
it was long term or short term.
That's all the money he had in the world.
After the last sale he had $90 in his pocket.
Sounds like a $30 profit to me.
Of course the IRS will want to know if
it was long term or short term.
Looks that’s way but not so:
Buys the goat: -60
Sells it: +70
_____
+10
Buys it back: -80
____
-70
Sells it again: +90
______
+20
Mar 30, 2022 10:42:23 #
GEL wrote:
There was no profit at the end of the three transactions.
Is this a philosophical answer?😳
Mar 30, 2022 10:44:04 #
sippyjug104 wrote:
He was in Jamaica and after buying the goat back he made 'jerk goat' on his BBQ and sold it with rice and beans for $10.00 a plate making him $500.00 which he spent on Ganga and now he has nothing but a smile.😜
Excellent!
Mar 30, 2022 10:58:17 #
StanMac
Loc: Tennessee
twosummers wrote:
A man buys a goat for $60.
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Mmmmm, I wonder?
No Googling or asking a nearby child....
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Mmmmm, I wonder?
No Googling or asking a nearby child....
$10
Edit: I didn’t read all of the responses yet.
Stan
Mar 30, 2022 11:10:36 #
[quote=boudreau]
Can you explain that?
twosummers wrote:
A man buys a goat for $60.
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Profit made: $0.00
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Profit made: $0.00
Can you explain that?
Mar 30, 2022 12:06:05 #
Mar 30, 2022 12:22:37 #
AMO
Loc: Pennsburg, PA
hankm1 wrote:
The guy had $60 in his pocket before the first buy.
That's all the money he had in the world.
After the last sale he had $90 in his pocket.
Sounds like a $30 profit to me.
Of course the IRS will want to know if
it was long term or short term.
That's all the money he had in the world.
After the last sale he had $90 in his pocket.
Sounds like a $30 profit to me.
Of course the IRS will want to know if
it was long term or short term.
If the man had only $60 to his name when he made the first purchase, he would not have enough to buy it back for $80 after selling for only $70.
The answer is $20.
Mar 30, 2022 12:36:19 #
twosummers wrote:
A man buys a goat for $60.
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Mmmmm, I wonder?
No Googling or asking a nearby child....
Then he sells it for $70.
Then he buys it back for $80
And sells it again for $90
How much profit did he make?
Mmmmm, I wonder?
No Googling or asking a nearby child....
Two totally separate transactions - does not have to be even the same goat! He made $10.00 on each transaction, for a total profit of $20.00.
Loren - in Beautiful Baguio City
Mar 30, 2022 12:43:46 #
Nothing said that he had $60 in his pocket. He actually moved from where he was at into a negative direction. From there just follow simple math to arrive at solution.
Mar 30, 2022 12:47:10 #
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