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

[Sly Cookin]

LOL how am I wrong? Ya'll coli experts are adding assumptions and conditions to the question. You can't do that. Ya'll are saying "what if" he had $100 or "what if" he had $70. Thats not the question. You can't just add conditions to the question.

(SARCASM) Why don't add and assume the guy borrowed the first $60 at a 10% interest. Wouldn't that also change the answer? LOL cmon ya'll.

Taking only the question at face value. The guy clearly ONLY MADE $10.

He bought the first Goat for $60. And sold it for $70. He at this point has a $10 profit.

But then he buys the SAME goat for $80. The $10 profit he made on the earlier transaction, now was used to buy the second goat. So at this point he has broken even.

When he sells that goat for $90. He has made a grand total of $10 ladies and gentlemen.

Where is the extra 10 to buy the 2nd goat. 60 + 10(profit) does not equal 80 for the 2nd goat.

The confusion for most on this, is whether that extra 10 is part of his bankroll or its a "loan"

 

[Brolic Scholar]

Please explain to me how if your reup is $80 and you only have $70, you’re making money.

 

[FrederickDouglas]

You ignorant motherfukkers got me in here doubting myself.

My original conclusion was 20, but then I heard 10? 30? He broke even? Did I have a stroke?

 

[Perfectson]

You aren't considering he purchased the 2nd goat with money he didnt start with.

He had 70 after the 1st purchase but had to front another 10 to buy an 80 dollar goat

Then consider he bought the first goat under the same circumstance then. You can't move the assumptions to suit your answer

 

[Moesif]

everybody here is actually right. @Brolic Scholar you are absolutely right with the 0 profit and everybody else is also right by saying 20 profit but you are all looking at the problem from a different angle. The gimick here is that they don't tell you how much money he has in his pocket to start with and that makes all the difference. If he had alot of money to play with then yes he absolutely made the $20 and you can think of it like a bank with infinte money flipping profits. But they don't actually tell you the full context here so you could also reasonably assume that he started with just the $60 in which case we also have to assume he took a $10 hit on the second trade which in the end resulted in a break even


In the end of the day, there is no clear right answer and these kind of "math questions" are designed with gimicks to give possibility for different answers for the purpose of making everyone comment in social medias

 

[Perfectson]

WHAT?!

Who said he had any more than $70 from the first sale? Where is he getting the other $10 for the $80 reup? I can tell who never sold shyt in here.

I'm a CFA...what are you ? Did you even score over 1400 in your SAT!!!?

 

[Perfectson]

everybody here is actually right. @Brolic Scholar you are absolutely right with the 0 profit and everybody else is also right by saying 20 profit but you are all looking at the problem from a different angle. The gimick here is that they don't tell you how much money he has in his pocket to start with and that makes all the difference. If he had alot of money to play with then yes he absolutely made the $20 and you can think of it like a bank with infinte money flipping profits. But they don't actually tell you the full context here so you could also reasonably assume that he started with just the $60 in which case we also have to assume he took a $10 hit on the second trade which in the end resulted in a break even


In the end of the day, there is no clear right answer and these kind of "math questions" are designed with gimicks to give possibility for different answers for the purpose of making everyone comment in social medias

Wrong, you "everyone is a winner" ass negro

There's a right and wrong answer

Even if you have money in your pocket or not, it's called leveraging and you keep all profits

 

[Kiyoshi-Dono]

 

[MR. SNIFLES]

Please explain to me how if your reup is $80 and you only have $70, you’re making money.

IF YOU HAVE THE MONEY TO COVER THE REUP FROM JUMP. YOUR SCENARIO WORKS ONLY IF YOU HAVE $60 OR LESS AT THE BEGINNING.

 

[levitate]

I'm a CFA...what are you ? Did you even score over 1400 in your SAT!!!?

1400 kinda high though...

 

[OneManGang]

6 pages of nikkas Juelzing a simple ass math problem, but y’all got all the answers for everything else

The Coli

It’s a $20 profit. End of story.

 

[Brolic Scholar]

I'm a CFA...what are you ? Did you even score over 1400 in your SAT!!!?

So nikka? I come from a family of accountants you brick headed nikka. My mother runs a casino, my brother is in finance and I’m starting a trucking business. fukk outta here with that high horse bullshyt. The fukk you think you talking to lame? 1400 on your SAT and don’t know basic math. Congrats!

 

[Dafunkdoc_Unlimited]

He made $20 by selling the goat, twice, for $10 more than he paid for it.

Have to break it into two transactions instead of one long one.

​

 

[Brolic Scholar]

no...

there isn't enough information to assume "this and only this"

We don't know how much money the man had to start with
We only know the information from 4 transactions...

The first transaction he bought a goat and that goat cost $60
The second transaction he sold a goat, and that goat sold for $70

The sum of the first pair of transactions is $10

The third transaction a man bought a goat for $70
He then sold that goat for $80

The sum of that transaction is $10

The sum of both transactions, $10 + $10 = $20

There isn't another answer. The assumption you quoted about "loaning money and paying back" is made up information to justify an incorrect point.

If I buy a car one day and sell it for $10 more than I purchased it on the next day I made $10. If I go and buy another car and sell it for $10 more than I purchased it the next day, I made another $10. The transactions are independent of each other.

Now,

If the question says "a man uses his last $60 to buy a goat and sell it for $70 and then borrows $10 to buy a goat that costs $80 in order to sell that goat for $90, how much does the man have after he pays back his debtor" then you and this other person would be right.

But as the question is written, four total transactions that leave the seller +$20 is pretty easily decipherable

Where did he get his reup money if he has $70 and the goat cost $80?

 

[MR. SNIFLES]

He made $20 by selling the goat, twice, for $10 more than he paid for it.

Have to break it into two transactions instead of one long one.

​

YEP. THE TRANSACTIONS ARE INDEPENDENT OF EACH OTHER. WE DON'T KNOW HOW HE GOT THE MONEY FOR EITHER PURCHASE. IT JUST SAYS THAT HE MADE THE PURCHASE.