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42 replies to this topic

#21 imran

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Posted 27 March 2008 - 12:32 PM

This seems simple, but I am amazed with different answers I receive. Here it is:

A Man (Mr. X) goes to grocer (Mr. Y) to buy a toothpaste. The grocer (Mr. Y) gives Mr. X the toothpaste and says it is $4. Mr. X takes out his wallet and hands him $10 bill. Now the grocer (Mr. Y) checks his cash register and finds that he has few $10 Bills and two $1 bills. So he sends his assistant to the next door shop owner (Mr. Z) to get change. The assistant hands over $10 bill, which he got from Mr. X to Mr. Z. Mr. Z in turn hands him change of two $5 bills. The assistant then hands that over to the Grocer Mr. Y. The Grocer puts one $5 bill back in the cash register, takes out a dollar bill and along with the other $5 bill, he hands $6 back to our customer Mr. X along with the toothpaste. Mr. X walks away. After a few minutes, the next door shop owner Mr. Z turns up at the Grocer Mr. Y and complains that the $10 bill his assistant gave was a fake one and of no use. Mr. Y being a nice grocer apologizes and hands another $10 bill from his cash register to compensate to Mr. Z. So the question is : How much was the monetary loss and to whom ?


Spoiler for my solution

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#22 ash013

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Posted 27 March 2008 - 01:11 PM

Spoiler for answer

Edited by ash013, 27 March 2008 - 01:20 PM.

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#23 ash013

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Posted 27 March 2008 - 01:17 PM

Spoiler for My answer

You forgeting,that Mr.X kept 4$,that's why his lost in cash is 10-4=6$.
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#24 GIJeff

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Posted 27 March 2008 - 01:41 PM

Well, about the cost of toothpaste idea. It depends on how you look at it. Say the toothpaste cost Mr. Y $2. Then he'd be out $8 bucks. But he already purchased the toothpaste at $2, which is finalized before the riddle takes place. Now he expects to sell it for $4, so that would make $10. So is he out what he paid for the toothpaste or is he out for what he would sell the toothpaste?


It doesn't matter what he WOULD have gotten, he is out the cost that it takes him to replace it (which may be $4 and may not). If I own a car that is worth $1000 and I try selling it for $15,000 and it gets stolen, do you think the insurance company is going to give me $15,000 because that's what I would have gotten had someone bought it?
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#25 Lost in space

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Posted 27 March 2008 - 02:05 PM

It doesn't matter what he WOULD have gotten, he is out the cost that it takes him to replace it (which may be $4 and may not). If I own a car that is worth $1000 and I try selling it for $15,000 and it gets stolen, do you think the insurance company is going to give me $15,000 because that's what I would have gotten had someone bought it?


Well, we don't know his whole sale price or mark up, so we can only guess which is pointless cos we will never know! It is only a fact that this may be part of the loss. Previous week it may have been part of an offer, or the whole sale company gave the guy a deal which made it free or.....etc

You may only get what the insurance wants to pay you for the car or you may challenge for more - I did and got more.
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#26 exotic

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Posted 27 March 2008 - 05:09 PM

As I said, the answer is no brainer, but I was amazed when I put this problem in my class with intelligent student. I had made it simple here, but in the original puzzle, the amount was a little higher and the transaction included couple of items, but I got answers ranging from $10 to $100.

Also, almost majority of my student came up with one answer instinctively and then changed it latter on.

When I gave the puzzle, I had the condition that they could not discuss the answers and logic before hand and they had to write the answers. Once I got the answers, I told them that each one has to pick someone who had a different answer, argue their logic and come up with unanimous answer. Then that group merges with group with the same answer and picks another group with different answer and try to come up with one answer. This continues till the entire class comes to one solution. It took more than two hours for a group of 20 students (management class)

Brhan intially got $4 then changed to $10
NoOct intially got $20 then changed to $10
Smokiecat intitally got $14 then changed to $10
Scraff, redshift, niner, itachi-san, eventhorizon, imran, ash013 all got $10

Do I still need to spell out the answer ?...
Thanks
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#27 statman

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Posted 27 March 2008 - 05:44 PM

If the system works correctly, either Mr X would be brought back to pay with real currency, or arrested. Question: Did mr Y get the $10 bill before he handed over the $5s?
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#28 finance_it

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Posted 27 March 2008 - 06:04 PM

HILLARIOUS!!

i was in with NoOct at $20 to begin with, glad that i read the rest of the posts before posting this and now smarter for doing so
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#29 exotic

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Posted 27 March 2008 - 06:14 PM

If the system works correctly, either Mr X would be brought back to pay with real currency, or arrested. Question: Did mr Y get the $10 bill before he handed over the $5s?


Mr. X walked away, so no way to bring him back.

Mr. Y just took the $10 (fake one) and passed it to his assistant, who gave it to Mr. Z to get change. Mr. Z took it in and gave two $5 in return. Afterwards, he noticed that the $10 passed along was a fake and so he went back to the Grocer Mr. Y. Mr. Y being a nice grocer and knowing Mr. Z for a long time, knew he wouldn't be lying just for $10. So he took up that loss and compensated Mr. Z with another (real one) $10. Mr. Z didn't loose anything or gain anything at the end of transaction.
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#30 Lausus

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Posted 27 March 2008 - 10:59 PM

Simplified, but then when I read through and noticed in the OP a grocer selling toothpaste - does that happen?


I get my toothpaste from the grocery store.
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