A tricky Math(s) problem
Mar 30, 2022 18:44:11 #
Reuss Griffiths
Loc: Ravenna, Ohio
After he buys and sells the goat and makes a $10 profit, that transaction is now moot and not connected to any past or furture transactions. He now buys that goat or another goat for $80 and sells it for $90 and makes another $10. So he has no goats and $20 in his pockets but the experience gained is priceless. Anybody out there buying second-hand goats? I've got a deal for you.
Mar 30, 2022 18:51:32 #
Dannj wrote:
He ends up with $20 more than he started with no matter how you look it. Call it a “gain”, call it “more”, call it “profit”. He’s up $20.
Yes and that's why he got $20 profit. The fact that the second time he bought for more money than the first is irrellevant because it could be another item altogether and he made $10 on it.
Mar 30, 2022 19:31:32 #
David in Dallas wrote:
I agree. The two transaction pairs are separate events.
David, my grandson is in the sixth grade in Fate (near Rockwall) and studying for the Starr test. If I put some of the questions in the study booklet on here, it would keep this thread going for quite some time!! A bit more sophisticated than what I was expected to handle in the sixth grade.
Mar 30, 2022 21:22:12 #
$30 profit. Started with $60 cash and no goat. Wound up with $90 cash and no goat.I have recalculated, dand my answer now is#0. Usoing this approach:
Start with $100-60+70-80+90=120. Started with $100, so profit is $20.
Start with $100-60+70-80+90=120. Started with $100, so profit is $20.
Mar 30, 2022 21:43:47 #
bcplimpton
Loc: Southern New Jersey
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?
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?
First transaction gross -$60 net -$60
Second transaction gross +$70 net +$10
Third transaction gross -$80 net -$70
Final transaction gross +$90 net +$20
Mar 30, 2022 22:15:02 #
Mar 30, 2022 22:35:08 #
BebuLamar wrote:
Yes and that's why he got $20 profit. The fact that the second time he bought for more money than the first is irrellevant because it could be another item altogether and he made $10 on it.
Sorry, I don’t follow that all. I don’t see how the second transaction is irrelevant or how it can be separated. Both transactions are important. The question was: “How much profit did he make?” and the answer is $20. Work thru the math on this as if you started with $100 in cash. At the end you’ll have $20 more than when you started. If you end up with more than you started with you’ve made a profit.
Mar 30, 2022 22:41:04 #
Wallen wrote:
Lets have a look from the other side: br br Man h... (show quote)
You get an "A" for creative math, Wallen!...😁
(The milk issue is a nice touch!)
Mar 30, 2022 23:07:10 #
Sarco wrote:
I believe that he made $20, purchases $60 plus $80 = $14, sales $70 plus $90 = $160. Look at it another way, he made a profit of $10 out of each of the two transactions. Think of it as being two separate goats.
Mar 31, 2022 00:57:38 #
Mar 31, 2022 08:09:22 #
$20 is the correct answer. The first transaction made $10 and was complete. The second also made $10 and was totally independent of the second one (as if the first never occurred).
D
D
Mar 31, 2022 08:40:13 #
$20 is correct. It doesn't matter if the second transaction is the same goat or a different goat.
Mar 31, 2022 10:10:45 #
Dave H2 wrote:
$20 is the correct answer. The first transaction made $10 and was complete. The second also made $10 and was totally independent of the second one (as if the first never occurred).
D
D
But if “the first never occurred” the profit would be $10 not $20 which, as you stated, is the correct answer.
Mar 31, 2022 10:32:47 #
KoniOmegaflex wrote:
$20 is correct. It doesn't matter if the second transaction is the same goat or a different goat.
Well, maybe not. Maybe someone should check with the goats>
Mar 31, 2022 11:05:40 #
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