Brolic Scholar
Licensed Text Technician
So the fact that he bought an $80 goat with $70 means what? How?
A man buys a goat for $60, sells it for $70....
- Thread starter RoidJonesJr
- Start date
So the fact that he bought an $80 goat with $70 means what? How?
He made $20. Just add the damn numbers together.
Some of ya'all make this WAY too complicated.
If you really don't believe everyone telling you the right answer, then just lay out ten $10 bills in front of you and move the money around.
Some of ya'all make this WAY too complicated.
If you really don't believe everyone telling you the right answer, then just lay out ten $10 bills in front of you and move the money around.
My man, in your scenario where he borrows money (which is never mentioned but for some reason we're allowed to imagine that scenario but not that he actually had more money to begin with) he started the day with $60 and ended the day with $80. He made $20. I hope you're trolling.
No matter how you look at it, he made $20. He started the day with $60, turned it into $70. He borrows $10 to buy an $80 goat. Sells the goat for $90, and pays back the $10, leaving him with $80. Once again, he started the day with $60 and ended it with $80. How can you possibly say he made nothing?
Brolic Scholar
Licensed Text Technician
So the fact that he bought an $80 goat with $70 means what? How?
BasketCase
Superstar
@Brolic Scholar
Please don't do your own taxes. Trust me.
Please don't do your own taxes. Trust me.
Black Bolt
Superstar
Okay, a different way of thinking about it. You realize that it doesn't matter whether it's the same goat or not, right?
A man bought one goat for $60 and a second goat for $80.
The man then sold the first goat for $70 and the second goat for $90.
.....
Once again, it is OBVIOUS that he made $10 on both sales, for $20 profit total.
Or a different way of thinking about it.
The man started ponying up $60. Then, he had to pony up an additional $10 the second time around. So he's spent $70 of his own money.
But he made $90 in the end.
$90 that he ends up with is $20 more than the $70 of original money that he had to put up.
Yes, the goat cost $80 the second time around, but $10 of that was from profit he'd made, it wasn't his money. Thus it was only $70 of his own money he put up, and still $20 profit total.
A man bought one goat for $60 and a second goat for $80.
The man then sold the first goat for $70 and the second goat for $90.
.....
Once again, it is OBVIOUS that he made $10 on both sales, for $20 profit total.
Or a different way of thinking about it.
The man started ponying up $60. Then, he had to pony up an additional $10 the second time around. So he's spent $70 of his own money.
But he made $90 in the end.
$90 that he ends up with is $20 more than the $70 of original money that he had to put up.
Yes, the goat cost $80 the second time around, but $10 of that was from profit he'd made, it wasn't his money. Thus it was only $70 of his own money he put up, and still $20 profit total.
That he either borrowed $10 or had more than $60 to start the day. Either way he ended the day with $20 more than he started with.
Him buying the goat back for $10 more than he sold it for is where this gets tricky. Doesn't that eliminate the initial profit?
Brolic Scholar
Licensed Text Technician
$80 isn’t profit. We’re talking profit. That’s it. How much you made is not profit plus investment. The initial investment was $60. The second investment was $80 (ten he had to borrow). No one is going to sell you something at a loss for you to turn around and make money unless they’re an idiot.
So the second goat was $80 but dude only had $70. You don’t think the goat seller wants all his money?
Brolic Scholar
Licensed Text Technician
I damn sure won’t let your goofy ass do them.
I didn't say $80 was profit I said $20 was profit. He began the day with $60, ended it with $80 in your scenario where he borrows $10. That's $20 profit.
Your post is nonsensical rambling.
Brolic Scholar
Licensed Text Technician
prof·it
ˈpräfət/
noun
- 1.
a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
"pretax profits"
