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

[Troublesome]

You don' understand the concept of debt smh

Again, ya'll are proving why so many are bad with money

Please explain how I lose money if someone gives me $10 and I give it right back? (Assuming no interest is involved)

He borrowed $10, made $20 and gave the $10 back. Leaving him with $10 profit. Add that $10 to the profit from eariler and its a $20 profit.

 

[xCivicx]

Please explain how I lose money if someone gives me $10 and I give it right back? (Assuming no interest is involved)

He borrowed $10, made $20 and gave the $10 back. Leaving him with $10 profit. Add that $10 to the profit from eariler and its a $20 profit.

Who did he borrow money from??

Do you understand how you and @R.E.N. Spells Ren are creating scenarios out of thin air and adding them to this problem??

I'm really not understanding how y'all are confusing yourselves so hard

 

[xCivicx]

70-60=$10 profit from the first sale

70+10 of your own money to buy the goat back = $0 NET

90-80= $10 NET

It's literally this simple

 

[Dafunkdoc_Unlimited]

But the time he lost 10 don’t matter?

Nope. That's why people are getting this simple question wrong.

The problem is asking you to find how much he MADE, not how much he SPENT.

He MADE $10, twice, which = $20.​

 

[Troublesome]

Who did he borrow money from??

Do you understand how you and @R.E.N. Spells Ren are creating scenarios out of thin air and adding them to this problem??

I'm really not understanding how y'all are confusing yourselves so hard

How does he jump from 70$ to $80?

Better yet, how does he start with $70, lose his previous $10 profit (like you claim), then get to $80?

 

[MR. SNIFLES]

THIS THREAD IS A PRIME EXAMPLE AS TO HOW THIS BOARD THINKS. SOME OF YA'LL DON'T KNOW HOW TO DISTINGUISH IRRELEVANT INFORMATION FROM FACTS. SOME OF YOU ARE EVEN ADDING INFORMATION TO THE STORY TO SUPPORT YOUR WRONG OUTCOME. THE ANSWER IS 20 NET.

THE EXPENSES PAID WERE 60+ 80+ 10= AND THE AMOUNT MADE WAS 70+90+10. MOST OF YOU ARE GETTING 10 BUCKS PROFIT BECAUSE YOU'RE FORGETTING TO ADD THE 10 DOLLARS BORROWED INTO THE GROSS. WHEN YOU TAKE A LOAN OUT TO BUY SOMETHING, THE LOAN ITSELF IS APART OF YOUR INCOME IF YOU DON'T PAY IT BACK. SO WHEN YOU PAY IT BACK IT CANCELS OUT ON A BALANCE SHEET.

YOU ACCOUNTANTS SHOULD BE ASHAMED.

 

[Morethan1]

THIS THREAD IS A PRIME EXAMPLE AS TO HOW THIS BOARD THINKS. SOME OF YA'LL DON'T KNOW HOW TO DISTINGUISH IRRELEVANT INFORMATION FROM FACTS. SOME OF YOU ARE EVEN ADDING INFORMATION TO THE STORY TO SUPPORT YOUR WRONG OUTCOME. THE ANSWER IS 20 NET.

THE EXPENSES PAID WERE 60+ 80+ 10= AND THE AMOUNT MADE WAS 70+90+10. MOST OF YOU ARE GETTING 10 BUCKS PROFIT BECAUSE YOU'RE FORGETTING TO ADD THE 10 DOLLARS BORROWED INTO THE GROSS. WHEN YOU TAKE A LOAN OUT TO BUY SOMETHING, THE LOAN ITSELF IS APART OF YOUR INCOME IF YOU DON'T PAY IT BACK. SO WHEN YOU PAY IT BACK IT CANCELS OUT ON A BALANCE SHEET.

YOU ACCOUNTANTS SHOULD BE ASHAMED.

These nikkas don't have accountants. You giving to much credit

The answer is 20 though

 

[DapMeUp!]

 

[Blackrogue]

thread is still going. Some of y'all will lose money In Business if you can't follow a money trail and know it's mathematics and what it's doing.

Link has been posted and answer was 20. If you are getting a different answer it's you who can't understand what's going on. Stop debating people and take time to study the solution knowing the answer as already been given to you. It's 20.
I came back to the thread thinking it's this long cause someone has posted a new puzzle. Turns out to be wrong

 

[Blackrogue]

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!

How much money did he start with and how much money did he end up with in his pocket?

 

[FreshFromATL]

Not really. Just add all the numbers up

(-60) + 70 + (-80) + 90 = 20

He grossed 20 all together if you add it that way but at the end of the day he only walked away with $10 profit.

Edit: Y'all nikkas can't do business math. nikkas straight up added their own logic to this shyt

 

[R.E.N. Spells Ren]

He grossed 20 all together if you add it that way but at the end of the day he only walked away with $10 profit.

Edit: Y'all nikkas can't do business math

No, you've just confused yourself...walk through the problem and it's clear he walks away with $20 more than he has to begin with...

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.

Started with $70 ended with $90....he made $20

 

[FreshFromATL]

No, you've just confused yourself...walk through the problem and it's clear he walks away with $20 more than he has to begin with...


Started with $70 ended with $90....he made $20

what do you do for a living bruh?

You straight up threw his transactions of purchasing the goat out the window and subtracted the profits

Now I see how nikkas stay overdrafting their bank accounts

 

[FreshFromATL]

THIS THREAD IS A PRIME EXAMPLE AS TO HOW THIS BOARD THINKS. SOME OF YA'LL DON'T KNOW HOW TO DISTINGUISH IRRELEVANT INFORMATION FROM FACTS. SOME OF YOU ARE EVEN ADDING INFORMATION TO THE STORY TO SUPPORT YOUR WRONG OUTCOME. THE ANSWER IS 20 NET.

THE EXPENSES PAID WERE 60+ 80+ 10= AND THE AMOUNT MADE WAS 70+90+10. MOST OF YOU ARE GETTING 10 BUCKS PROFIT BECAUSE YOU'RE FORGETTING TO ADD THE 10 DOLLARS BORROWED INTO THE GROSS. WHEN YOU TAKE A LOAN OUT TO BUY SOMETHING, THE LOAN ITSELF IS APART OF YOUR INCOME IF YOU DON'T PAY IT BACK. SO WHEN YOU PAY IT BACK IT CANCELS OUT ON A BALANCE SHEET.

YOU ACCOUNTANTS SHOULD BE ASHAMED.

Check my other post. You're not wrong, but neither are the people saying $10.

 

[R.E.N. Spells Ren]

what do you do for a living bruh?

You straight up threw his transactions of purchasing the goat out the window and subtracted the profits

Now I see how nikkas stay overdrafting their bank accounts

No, you're just wrong.

Tell me, how much do you think he ends up with if he starts with $70 in his pocket? And walk through the problem.