Many of you have e-mailed me about the correct answer to the tricky horse problem!!! This drove many people crazy!
The answer is $20, but there are a few different approaches you can take. This one is the easiest:
He bought for $60 and $80 = $140 and sold $70 and $90= $160. $160-140=20.
I might have to throw a few more challenges out like this one in the future :)
If you thought the answer was that he broke even or came out $10 ahead, you weren't alone. Only half the ADULTS I asked this to knew the correct answer.
Are you smarter than a 5th grader?!
Just kidding!
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Another approach to look at: pretend you started with $100.
$100
-$60 for buying the horse=
$40
+$70 for selling the horse=
$110
-$80 for buying the horse=
$30
+$90 for selling the horse=
$120 that you end up with
-$100 you started with=
$20 profit
I love doing mind teasers!
Posted by: Mary | October 26, 2007 at 02:10 PM
I still think that answer is that he breaks even. He started with $60 and sold it for $70 then that is a ten dollar profit. When he buys it back for $80 that is $20 more that he spent the first time, minus the $10 profit he still owes another $10. When he sells it the second time he makes $10. which washes with $10 he owed from buying the horse back.
Posted by: Allison | October 26, 2007 at 03:21 PM
Yeap, I agree these are fun mind teasers. I love that show "Are you smarter than a fifth grader?" We watch it all the time...and often times my daughter, who is a fifth grader, does in fact know the answers better than her two parents, LOL.
Posted by: maria | October 26, 2007 at 03:59 PM
damn girl that drove me nuts....
Posted by: Greta Adams | October 29, 2007 at 11:17 AM