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

[R.E.N. Spells Ren]

Once again, at the very least, he would need $70 in order to be able to make both transactions, so that's the simplest place to start when attempting to figure this problem out

You could assume he started with $70, and you'll still get a $20 profit (cuz it's the same with ANY starting amount, as I said before)

He starts with $70 cash. He buys a goat leaving him with $10 cash and a goat. He sells that goat for $70, leaving him with $70+$10=$80 cash. He then takes that $80 and buys the goat again leaving him with $0 and a goat. Then he sells that goat for $90, leaving him with just $90 cash.

He started with $70 cash, now he has $90, so he made $20. That's his profit.

It's really that simple, and like I said, it's $20 regardless of what he started with (provided he can borrow money for free, if needed).

 

[Buggsy Mogues]

It does matter smh. You're still underthinking and making assumptions based on nothing but your imagination

Nothing about his starting worth NOR using credit cards is stated ANYWHERE smh

In the simplest terms that even a 5 year old could understand, in order for him to make both transactions he would need $70 to start with AT THE VERY LEAST.

Nothing in any of your posts matters beyond this simple fact. If he had less than 70 to start then he could not have made these tranactions AT ALL

So THATS where you start with the transaction. You assuming that he has $100 or credit cards is completely irrelevant and is just a product of your own imagination. It means nothing

He spends 60, makes 70. Profit 10. He then spends 80, EATING THE FIRST PROFIT, then makes 90. Profit 10.

This is the simplest most logical way to solve this problem. All assumptions and imagination kept to a minimum

Now please explain how you figured out that dude started with more than $70 when it's never explicitly stated anywhere thanks

Ya'll twisting yourselves in knots worrying about how much breh started with

You wanna start at 70?


I have $70, buy the goat for $60, I have $10 left.

Sell the goat for $70, now I have $80.

Buy the goat for $80, now I have $0.

Sell the goat for $90, now I have $90.


So I entered this scenario with $70 in my pocket, and I am walking away with $90.

 

[OneManGang]

Y'all clearly are smh

This isn't even about money at this point. It's simple arithmetic

The irony and lack of awareness in this post is shocking

 

[R.E.N. Spells Ren]

You are confusing yourself breh. Ya'll way overthinking this shyt.


I just used $90 as an arbitrary number. It doesn't really matter what you start with, the end result is the same.


I've got $80 in the bank... I buy the goat for $60, I have $20 left.

I sell the goat for $70, now I have $90 total.

I buy it back for $80, which I had in the bank originally, and now I'm down to $10.

Sell it for $90, which puts me at $100.

I made $20.

I bought the goat twice for $60 and $80 (60 + 80 = 140)

I sold it twice for $70 and $90 (70 + 90 = 160)

160 - 140 = 20

Why is this so hard for some of ya'll

Profit = income - expenses

It's really that simple, people made this into some convoluted problem for no reason at all.

 

[xCivicx]

You could assume he started with $70, and you'll still get a $20 profit (cuz it's the same with ANY starting amount, as I said before)

He starts with $70 cash. He buys a goat leaving him with $10 cash and a goat. He sells that goat for $70, leaving him with $70+$10=$80 cash. He then takes that $80 and buys the goat again leaving him with $0 and a goat. Then he sells that goat for $90, leaving him with just $90 cash.

He started with $70 cash, now he has $90, so he made $20. That's his profit.

It's really that simple, and like I said, it's $20 regardless of what he started with (provided he can borrow money for free, if needed).

Thank you again for proving my point

He goes down to $0 when he buys the goat a 2nd time for 80 then sells it for 90

Net profit $10

 

[xCivicx]

Ya'll twisting yourselves in knots worrying about how much breh started with

You wanna start at 70?


I have $70, buy the goat for $60, I have $10 left.

Sell the goat for $70, now I have $80.

Buy the goat for $80, now I have $0.

Sell the goat for $90, now I have $90.


So I entered this scenario with $70 in my pocket, and I am walking away with $90.

You spent $10 of your profit to buy the goat the 2nd time

So once again, your net is $10. It's that simple

 

[xCivicx]

The irony and lack of awareness in this post is shocking

Oh

 

[xCivicx]

Profit = income - expenses

It's really that simple, people made this into some convoluted problem for no reason at all.

Exactly

What y'all seem to be not understanding is that the problem resets itself after each transaction

After the goat is bought for 60 and sold for 70, the problem starts over. The buyer now has 80 in his pocket

He buys the goat for 80 then sells for 90, which is a net profit of 10

 

[R.E.N. Spells Ren]

Thank you again for proving my point

He goes down to $0 when he buys the goat a 2nd time for 80 then sells it for 90

Net profit $10

You don't understand what net profit is.

Here's a hint: net profit does not mean your profit solely off of your last sale

 

[Buggsy Mogues]

Homie in the question entered the day with XX amount of dollars, and at the end of these transactions, he walks away $20 more than he started with.

Under any scenario you start with, he walks away with $20.

Like, THAT'S IT. The end. Done. Finished. Good night.

HOW are dudes still arguing this?

 

[Won Won]

Of course the flat earther is going full retard

 

[Troublesome]

You spent $10 of your profit to buy the goat the 2nd time

So once again, your net is $10. It's that simple

Just cuz he needed another $10 to buy the goat, doesn't mean he lost his profit. If you have $70 in your wallet, and someone loans you $10, that doesn't mean you lost anything. You now have $70 + $10 = $80. If you choose to do nothing with the borrowed $10, you just give it back and you still have your original $70. You didnt lose anything. The only way you lose your profit is if you lose the borrowed $10 and still have to pay it back.

 

[Sterling Archer]

 

[All Women Are Queens]

this thread is still going

 

[KingRozay]

$30. Paid $60 to begin and ended up selling for $90. What he sold it for initially and bought it back for again is redundant.

Spoiler

at the replies in this thread

 

[Von Clay]

Y'all still discussing this shyt??