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re: Settle This Facebook Math Problem
Posted on 9/19/17 at 9:36 pm to ProjectP2294
Posted on 9/19/17 at 9:36 pm to ProjectP2294
quote:
But why did he buy it back?
Because he thought it would rise in value again. The more interesting question is, "Why did he sell it in the first place?" Assuming he would have sold it at $90 no matter what, he would've been better off holding it instead of darting in and out of it, making $30 instead of $20.
This problem is exactly like trading stocks with cash, ignoring commissions and any other fees. It's a sum of cash inflows and outflows, with the outflows being negative and representing buys, and the inflows being positive and representing sales.
0
Posted on 9/19/17 at 9:42 pm to Chicken
I looked at it again.
Chicken is actually right.
I know... stunner..
Guy puts in 60, takes out 70.
He now has 70.
He puts that 70 back in, plus another ten out of his pocket to get the whore for 80 again.
At this point he's out 60-10+10 = 60
Then he sells her for $90.
$90 - $70 = $30
Chicken is all wrong
Chicken is actually right.
I know... stunner..
Guy puts in 60, takes out 70.
He now has 70.
He puts that 70 back in, plus another ten out of his pocket to get the whore for 80 again.
At this point he's out 60-10+10 = 60
Then he sells her for $90.
$90 - $70 = $30
Chicken is all wrong
This post was edited on 9/19/17 at 9:44 pm
Posted on 9/19/17 at 9:42 pm to pioneerbasketball
It's an easy problem for anybody with half a brain. Posting seemingly challenging (but easily answerable) puzzles on facebook is a surefire easy guaranteed way to get clicks, shares, and comments
My dumb aunt is case #1. She shares this kind of shite daily. Then again, she multiple times fell for Obi-Wan Jesus.
My dumb aunt is case #1. She shares this kind of shite daily. Then again, she multiple times fell for Obi-Wan Jesus.
Posted on 9/19/17 at 9:46 pm to pioneerbasketball
quote:
Settle This 3rd grade Math Problem
FIFY
Posted on 9/19/17 at 9:47 pm to OweO
The correct answer is $90.
At the end of the day, he sold the horse for $90. So he maid strait profit. Everything that happened before he sold the horse for the final time, is irrelevant.
At the end of the day, he sold the horse for $90. So he maid strait profit. Everything that happened before he sold the horse for the final time, is irrelevant.
Posted on 9/19/17 at 9:48 pm to pioneerbasketball
If this thread is any indication our education system has failed us.
Posted on 9/19/17 at 10:01 pm to DawgGONIT
quote:
The correct answer is $90.
quote:
So he maid strait profit.
Posted on 9/19/17 at 10:06 pm to DawgGONIT
quote:
The correct answer is $90.
At the end of the day, he sold the horse for $90. So he maid strait profit. Everything that happened before he sold the horse for the final time, is irrelevant.
Posted on 9/19/17 at 10:06 pm to pioneerbasketball
It depends on how you view the world. It is basically a test to see if you're a glass half full or glass half empty type for guy. It also tests your practicality and business acumen.
If you're a true optimist who looks only at the beginning and end of the situation then you would say he made 30.
At the beginning of the day he had a horse worth $60. At the end of the day he had $90.
If you're an optimist who looks at the parameters of the problem in a vacuum, then the answer is that he made $20. Overall he spent 140, he made 160, so the simple math answer in a vacuum is 20.
However, if you break the problem down and you approach it from a real world business standpoint still in a vacuum:
He spent $60 on a horse.
He then sold the horse for $70.
Making a profit of $10
Giving him $70 in liquid assets.
He has a +10 net right now.
He then buys the same horse for $80.
Giving him a net of -70
Then sells that horse for 90
Giving him a net +20
If you're an accountant you probably look at his bank ledger like this:
60 - starting balance
-60 - buys horse
+70 - sells horse
-80 - buys horse
+90 - sells horse
Ending balance: 80
So he made 20 from his starting investment of 60.
Now let's say he walks in with 0.
He borrows 60 to buy the horse, then sells it for 70, he pays back the 60 and now has $10 in his pocket.
He then borrows 70, adds it to the 10 in his pocket and buys the horse for 80, then sells it for 90. He pays back the 70 loan and is left with 20 in his pocket.
If you're a pessimistic logical thinker then you realize there's more to the problem that the vacuum presented.
It costs a lot of money to feed and house a horse. If it costed more than $10 to care for the horse either time than he lost money.
You also have to wonder what the time between sales is. Due to inflation over time the two amounts may not be compared as a net unless we know the effect of the rate of inflation
If you're a true optimist who looks only at the beginning and end of the situation then you would say he made 30.
At the beginning of the day he had a horse worth $60. At the end of the day he had $90.
If you're an optimist who looks at the parameters of the problem in a vacuum, then the answer is that he made $20. Overall he spent 140, he made 160, so the simple math answer in a vacuum is 20.
However, if you break the problem down and you approach it from a real world business standpoint still in a vacuum:
He spent $60 on a horse.
He then sold the horse for $70.
Making a profit of $10
Giving him $70 in liquid assets.
He has a +10 net right now.
He then buys the same horse for $80.
Giving him a net of -70
Then sells that horse for 90
Giving him a net +20
If you're an accountant you probably look at his bank ledger like this:
60 - starting balance
-60 - buys horse
+70 - sells horse
-80 - buys horse
+90 - sells horse
Ending balance: 80
So he made 20 from his starting investment of 60.
Now let's say he walks in with 0.
He borrows 60 to buy the horse, then sells it for 70, he pays back the 60 and now has $10 in his pocket.
He then borrows 70, adds it to the 10 in his pocket and buys the horse for 80, then sells it for 90. He pays back the 70 loan and is left with 20 in his pocket.
If you're a pessimistic logical thinker then you realize there's more to the problem that the vacuum presented.
It costs a lot of money to feed and house a horse. If it costed more than $10 to care for the horse either time than he lost money.
You also have to wonder what the time between sales is. Due to inflation over time the two amounts may not be compared as a net unless we know the effect of the rate of inflation
This post was edited on 9/19/17 at 10:34 pm
Posted on 9/19/17 at 10:06 pm to DeoreDX
quote:
If this thread is any indication our education system has failed us.
Soooooo many stupid people in this thread... it's amazing
Buy at 60, sell at 70 = 10
+
Buy at 80, sell at 90 = 10
So, 10+10 = 20
This shite isn't difficult
Posted on 9/19/17 at 10:13 pm to pioneerbasketball
Why the long face?
Posted on 9/19/17 at 10:17 pm to pioneerbasketball
The horse is the man's mother.
Posted on 9/19/17 at 10:20 pm to TheArrogantCorndog
quote:
Buy at 60, sell at 70 = 10
quote:
Buy at 80, sell at 90 = 10
quote:
10+10 = 20
When he bought at 80 he had to borrow an additional $10 so it wiped out his $10 profit from the first sale because now he is $70 out of pocket total. He made $10 total
Posted on 9/19/17 at 10:24 pm to jmh5724
quote:
When he bought at 80 he had to borrow an additional $10 so it wiped out his $10 profit from the first sale because now he is $70 out of pocket total. He made $10 total
This is how I did it.
Posted on 9/19/17 at 10:25 pm to jmh5724
You're assuming he only had 60 bucks to start
Show me where it says he only has $60 to start with
Show me where it says he only has $60 to start with
This post was edited on 9/19/17 at 10:27 pm
Posted on 9/19/17 at 10:30 pm to TheArrogantCorndog
Doesn't matter what he started with. The problem starts with the original purchase of $60 so he is -$60 of however much he has.
Posted on 9/19/17 at 10:33 pm to jmh5724
4 pages in.
Has the correct answer been listed?
Has the correct answer been listed?
Posted on 9/19/17 at 10:34 pm to TheArrogantCorndog
I was wrong the answer is $20 profit because he is $70 out of pocket and $90 final sale. Still don't see why it matters how much money he started with
shite now I've confused myself
shite now I've confused myself
This post was edited on 9/19/17 at 10:38 pm
Posted on 9/19/17 at 10:38 pm to TheArrogantCorndog
Buy at $60 (initial investment) = net profit $0
Sell at $70 = net profit +$10
Buy back at $80 = net profit $0
Sell at $90 = net profit +$10
I dunno, I hate these
Posted on 9/19/17 at 10:38 pm to pioneerbasketball
He made $20.
This one was really easy and not confusing at all unlike those 288 or ones where they put parenthesis in weird spots and use / instead of a division sign.
I think if people get it wrong it's because they start by doing 60 - 70 instead of -60 + 70.
This one was really easy and not confusing at all unlike those 288 or ones where they put parenthesis in weird spots and use / instead of a division sign.
I think if people get it wrong it's because they start by doing 60 - 70 instead of -60 + 70.
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