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Henry bought a horse for $600 and then sold it for $700. The next day be bought it back for $800 and then sold if for $900. What is the result of this horse-trading?
Bimjob, he said "bought it back" which implies that he bought that same horse back for 100 more than he sold it for.
Because of how the question was worded...:
Step 1: He bought the horse for 600 Step 2: He sold the horse for 700 Profit of: 100 Now, based on the wording of the question, he bought back the SAME horse Step 3: He bought the SAME horse for 800, meaning he spent 100 more dollars buying the horse he JUST sold for 700...so he just lost the 100 profit he had from before. Total profit so far: 0 Step 4: He sold the horse again for 900 dollars, after having previously re-bought it for 800.
Out of all of the trading done, he came out with $100, TOTAL.
If you're suppose to assume the two deals are separate, which is not how the question was worded, then he made out with $200, because each of the two deals made $100.
However, if you buy something, sell it, then re-buy that same thing for more than you sold it for..you lose profit.
Laugh, you got a couple of people with this one. He made $200. On the first deal he made $100. You all got that. For the second deal, he also made $100. ... Imagine that on the second deal he bought a pure-bred dog for $800 and sold it for $900. The two deals are separate even though the commodity (horse) is the same.
I'm not arguing with you...you would be right, but because of how the question was worded, it really doesn't seem like the right answer. Want to explain it more, this time picking out parts of the sentence and elaborating on them?
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he's even, he didn't gain any money. look he bought it for 600 and sold it for 700. that means he got gained 100 dollars. but then he bought it back for 800 and sold it for 900.
is this a trick question? like he gave out 600 got back 700 gave out 800 got back 900 so the result is $200.
he is even. NO money gained and No money lost. please tell us...
I stand by my answer.
