BMAD 63 Report post Posted November 15, 2017 Bill sold his motor scooter to Tom for $100. After driving it around for a few days Tom discovered it was in such a broken-down condition that he sold it back to Bill for $80. The next day Bill sold it to Herman for $90. What is Bill's total profit? Share this post Link to post Share on other sites

2 Pickett 12 Report post Posted November 16, 2017 I've not heard this one...but I'll take a stab: Spoiler Let X be the amount Bill originally bought the scooter for. Bill's total profit (or loss) = $110 - X Example: If he originally bought it for $100, then: Bill buys for $100 (total profit = -$100) Bill sells to Tom for $100 (total profit = $0) Tom sells to Bill for $80 (total profit = -$80) Bill sells to Hermon for $90 (total profit = $10) So unless we know what he originally bought the scooter for, we can't really calculate his total profit. Share this post Link to post Share on other sites

0 rocdocmac 3 Report post Posted November 17, 2017 Spoiler 18 % Share this post Link to post Share on other sites

0 rocdocmac 3 Report post Posted November 21, 2017 Spoiler No, I lie! Surely not 18%, but 10, 20 or 30 %, depending on the way you interpret the question. Share this post Link to post Share on other sites

0 dgreening 5 Report post Posted December 6, 2017 Pickett makes a good point about not knowing the original price that Bill paid, but based on the data as presented Spoiler Bill acquired this for some value X in the past. Bill sold to [$100] and bought from [$80] Tom for a net profit of $20 Bill bought from Tom [$80] sold to Herman [$90] for a net profit of $10 For these 3 transactions the net profit is $30 Since we don't know X Bill's profit will be affected by the cost of Acquisition If it cost Bill $100 [X = $100] then his total profit would be $30 $130 [X = $130] then his total profit would = $30 - $30 = 0 $50 [X =$50] then his total profit would = $30 + $50 = $80 Therefore Bill's total profit = X - $100 + $30 Share this post Link to post Share on other sites

Bill sold his motor scooter to Tom for $100. After driving it around for a few days Tom discovered it was in such a broken-down condition that he sold it back to Bill for $80. The next day Bill sold it to Herman for $90. What is Bill's total profit?

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