A man buys a goat for $60, sells it for $70....

[OC's finest]

Oooohhh, I see where everyone got 20 from. If he borrowed money, then he broke even.

this is incorrect on so many levels

the answer can only be 20

 

[MexicanKingpin]

He ended up with $80 after selling the goat for $90, how does that leave him with just $10 when he started with $60? And wherever the $10 from the 3rd transaction came from is the same place the original $60 came from. So whether you are starting at $0 or at $60 he comes out +$20. You did the math yourself.

Im talking about profit he made not overall amount of money he has.

 

[MarcMan]

Why is this person buying the same goat twice?

This is actually very common with commodities.

Let's assume you have a contract with a farmer to buy a bushel of wheat for $10 in May while also having an agreement to sell a bushel of wheat to a baker for $20 in December.

$10 profit and everyone is happy right? Great.

Now, let's say that September rolls around and the price for wheat spikes. You can sell that bushel of wheat you purchased in May from the farmer for $40 today (in September) and buy it back in the forward market in November for $20. That gives you $20 dollars of profit in addition to the bushel of wheat you need to fulfill your December obligation to the baker.

So you've essentially taken that one bushel of wheat and sold it twice for a total of $30 when you originally would have just made $10 on a single sale. And you can do that as many times as is profitable.

 

[fscballin]

He made 10 bucks. How is this complicated.

 

[fscballin]

Im talking about profit he made not overall amount of money he has.

 

[y2flyy]

LMFAO TALK ABOUT FAIL

Nah no fail here bro. Ya'll geniuses plus the idiots writing the articles don't understand math nor business. I am 100% right.

The stupid thing yall are saying is these are two separate transactions. But in every answer posted that says the profit was $20 at the end, is adding the profit from the first deal.

But then not adding the expense of buying the goat back. There is no business that equates their profit with only the cash back after a collection of transactions.

You have to ALSO account for the expense. Ya'll geniuses are not doing that.

Let me break it down like others have done, but this time this is 100% correct.

1- Buy the goat for $60 and sells it for $70 = $10 profit

2- Buy the SAME goat for $80, but how the F*ck did he get the $80 when he only had $70 from the 1st transaction?
He clearly needed to add $10 to his $70 to get the $80 dollars to buy back the goat. The $10 profit from the 1st transaction is NOW GONE! because he put $10 more dollars into his business in order to buy the goat the second time!
$10 profit + $10 business expense = BREAK EVEN!
**This is how business works.**

3- Dude is now even. With a used GOAT in his hands.

4- Dude sells the Goat for $90 and now is back at $10 profit.

This is how BUSINESS works. You don't look at each transaction separately and then just add the profit from each, YOU ALSO HAVE TO TAKE IN ACCOUNT THE EXPENSE.

Anyone says I'm wrong don't understand simple math or simple economics!

 

[Pimp]

Nah no fail here bro. Ya'll geniuses plus the idiots writing the articles don't understand math nor business. I am 100% right.

The stupid thing yall are saying is these are two separate transactions. But in every answer posted that says the profit was $20 at the end, is adding the profit from the first deal.

But then not adding the expense of buying the goat back. There is no business that equates their profit with only the cash back after a collection of transactions.

You have to ALSO account for the expense. Ya'll geniuses are not doing that.

Let me break it down like other have done, but this time this is 100% correct.

1- Buy the goat for $60 and sells it for $70 = $10 profit

2- Buy the SAME goat for $80, but how the F*ck did he get the $80 when he only had $70 from the 1st transaction?
He clearly needed to add $10 to his $70 to get the $80 dollars to buy back the goat. The $10 profit from the 1st transaction is NOW GONE!
**This is how business works.**

3- Dude is now even. With a used GOAT in his hands.

4- Dude sells the Goat for $90 and now is back at $10 profit.

This is how BUSINESS works. You don't look at each transaction separately and then just add the profit from each, YOU ALSO HAVE TO TAKE IN ACCOUNT THE EXPENSE.

Anyone says I'm wrong don't understand simple math or simple economics!

You gotta be the dumbest nikka here. The answer is fukking $20... You said he only had $60 to buy the first GOAT but who said he only had $60?

 

[y2flyy]

You gotta be the dumbest nikka here. The answer is fukking $20... You said he only had $60 to buy the first GOAT but who said he only had $60?

Breh who the f*ck said he HAD more than $60 dollars? Thats not in the question.

I'm only taking the question at face f*cking value. I'm not assuming the dude had more or less than what the question specifically says.

It doesn't even matter if he had more than $60. After he spent the $60, and made it back plus $10. Ya'll fools are not accounting that he also needed ANOTHER $10 to buy the goat back at $80.

Like I said yall are ONLY accounting for the money resulting from each transaction. You're completely forgetting the expense the man had to take on (to buy BACK the goat) which cut into his profit after the second transaction.

 

[fscballin]

Nah no fail here bro. Ya'll geniuses plus the idiots writing the articles don't understand math nor business. I am 100% right.

The stupid thing yall are saying is these are two separate transactions. But in every answer posted that says the profit was $20 at the end, is adding the profit from the first deal.

But then not adding the expense of buying the goat back. There is no business that equates their profit with only the cash back after a collection of transactions.

You have to ALSO account for the expense. Ya'll geniuses are not doing that.

Let me break it down like others have done, but this time this is 100% correct.

1- Buy the goat for $60 and sells it for $70 = $10 profit

2- Buy the SAME goat for $80, but how the F*ck did he get the $80 when he only had $70 from the 1st transaction?
He clearly needed to add $10 to his $70 to get the $80 dollars to buy back the goat. The $10 profit from the 1st transaction is NOW GONE! because he put $10 more dollars into his business in order to buy the goat the second time!
$10 profit + $10 business expense = BREAK EVEN!
**This is how business works.**

3- Dude is now even. With a used GOAT in his hands.

4- Dude sells the Goat for $90 and now is back at $10 profit.

This is how BUSINESS works. You don't look at each transaction separately and then just add the profit from each, YOU ALSO HAVE TO TAKE IN ACCOUNT THE EXPENSE.

Anyone says I'm wrong don't understand simple math or simple economics!

 

[fscballin]

It doesn't even matter if he had more than $60.

Oh really?????



Let's go back to 3rd grade for a moment.

Farmer Brown has $100

Farmer Brown spends $60 to buy 1 goat

Farmer Brown is now left with $40 and 1 goat

Farmer Brown then decides to sell his 1 goat for $70.

Farmer Brown now has $110 ($40 + $70).

Farmer Brown buys 1 goat again but this time for $80.

Farmer Brown is now left with $30 and 1 goat

Farmer Brown then decides to sell his 1 goat for $90.

Farmer Brown now has $120 ($30 + $90).

Farmer Brown started off with $100, but ends up with $120.


You're Welcome

 

[Sccit]

Nah no fail here bro. Ya'll geniuses plus the idiots writing the articles don't understand math nor business. I am 100% right.

The stupid thing yall are saying is these are two separate transactions. But in every answer posted that says the profit was $20 at the end, is adding the profit from the first deal.

But then not adding the expense of buying the goat back. There is no business that equates their profit with only the cash back after a collection of transactions.

You have to ALSO account for the expense. Ya'll geniuses are not doing that.

Let me break it down like others have done, but this time this is 100% correct.

1- Buy the goat for $60 and sells it for $70 = $10 profit

2- Buy the SAME goat for $80, but how the F*ck did he get the $80 when he only had $70 from the 1st transaction?
He clearly needed to add $10 to his $70 to get the $80 dollars to buy back the goat. The $10 profit from the 1st transaction is NOW GONE! because he put $10 more dollars into his business in order to buy the goat the second time!
$10 profit + $10 business expense = BREAK EVEN!
**This is how business works.**

3- Dude is now even. With a used GOAT in his hands.

4- Dude sells the Goat for $90 and now is back at $10 profit.

This is how BUSINESS works. You don't look at each transaction separately and then just add the profit from each, YOU ALSO HAVE TO TAKE IN ACCOUNT THE EXPENSE.

Anyone says I'm wrong don't understand simple math or simple economics!

LMAO I HOPE UR TROLLIN BRUH

 

[Troublesome]

.

 

[BruhManFromTheFifthFlo]

Nah Imma go with 20. At face value

 

[im_sleep]

$20

 

[Pressure]

He starts with 60.
Ends with 90.
He took a 10 dollar loss on the way.

Why's everyone tripping?