You are not signed in (Login or Join Free)   |   Help
Sploofus Trivia
Trivia GamesCommunityLeaderboardsTournaments
MySploofus
You are here:  Home  >>  Chat Forums  >>  Trivial Tangents  >>  View Chat Message

View Chat Message



Pages:  1    


lovesmoodies
Lovesmoodies  (Level: 45.7 - Posts: 132)
Fri, 13th Jun '08 9:22 PM

THE HORSE PROBLEM

I thought I would get the smart people at Sploofus' take on the old horse problem.

A man buys a horse for 50 dollars. Decides he wants to sell his horse later and gets 60 dollars. He then decides to buy it back again and paid 70 dollars. However, he could no longer keep it and he sold it for 80 dollars.

Did he make money? lose money? or break even?


fudypatootie
Fudypatootie  (Level: 197.1 - Posts: 1302)
Sat, 14th Jun '08 1:02 AM

Isn't he $20 ahead? I could be missing something - wouldn't be the first time (shut up, Scifidwarf!).

papajensai
Papajensai  (Level: 192.9 - Posts: 1025)
Sat, 14th Jun '08 7:52 AM

$20 ahead. Hope he kept receipts for feed and shoe cleaning so capital gains doesn't eat it up.

salzypat
Salzypat  (Level: 156.3 - Posts: 5315)
Sat, 14th Jun '08 8:26 AM

Hmmm ... Did he make $30?

papajensai
Papajensai  (Level: 192.9 - Posts: 1025)
Sat, 14th Jun '08 8:41 AM

uh oh

kaufman
Kaufman  (Level: 256.8 - Posts: 3936)
Sat, 14th Jun '08 9:46 AM

When you figure in the capital gains taxes ...

donleigh
Donleigh  (Level: 147.5 - Posts: 5073)
Sat, 14th Jun '08 10:58 AM

When you start with the original $50, he was already in the hole - but he made $10, lost $10, made $10.

twoxfourman
Twoxfourman  (Level: 82.4 - Posts: 153)
Sat, 14th Jun '08 11:01 AM

I figure he should be able to retire with the government farm subsidy.

spacecat
Spacecat  (Level: 158.6 - Posts: 667)
Sat, 14th Jun '08 2:58 PM

He wanted to buy the horse back but it had already been processed. So he took his original gains and bought 20 dollars worth of delcious horsemeat steaks. Yum.

lovesmoodies
Lovesmoodies  (Level: 45.7 - Posts: 132)
Sat, 14th Jun '08 9:26 PM

I'm never going to find out the right answer, am I?

donleigh
Donleigh  (Level: 147.5 - Posts: 5073)
Sat, 14th Jun '08 10:53 PM

You might happen upon the right answer by mistake here on the island, but you're more likely to get more "left" answers than right.

mplaw51
Mplaw51  (Level: 179.5 - Posts: 1582)
Sun, 15th Jun '08 7:42 PM

I think I agree with Donleigh, he made $10, lost $10, made $10. He can't have made $20 cause he spent what he made by buying the horse again. Is there an answer?

lovesmoodies
Lovesmoodies  (Level: 45.7 - Posts: 132)
Sun, 15th Jun '08 8:27 PM

I don't think there is an answer. It drives me crazy! It comes out different depending on which way you solve the problem.

kaufman
Kaufman  (Level: 256.8 - Posts: 3936)
Sun, 15th Jun '08 9:59 PM

No ifs, ands or buts. He spent $120 and collected $140. You do the math.

tuzilla
Tuzilla  (Level: 133.9 - Posts: 3777)
Sun, 15th Jun '08 10:43 PM

You forgot to factor in all the oats and such.

zeedee
Zeedee  (Level: 224.7 - Posts: 1088)
Mon, 16th Jun '08 4:02 AM

It seems to me that he came out $30 ahead. He started with $50 and ended with $80. The sale and buy-back in between is just a distraction No?

kaufman
Kaufman  (Level: 256.8 - Posts: 3936)
Mon, 16th Jun '08 7:20 AM

No, because you lost $10 on the inbetween transactions.

papajensai
Papajensai  (Level: 192.9 - Posts: 1025)
Mon, 16th Jun '08 10:44 AM

Also, the organic gardener down the road paid him $10 for all that horse manure. Don't forget about the horse manure.

donleigh
Donleigh  (Level: 147.5 - Posts: 5073)
Mon, 16th Jun '08 1:01 PM

Who could forget about the horse manure? It's such a lovely aroma in the morning.

tresgatos
Tresgatos  (Level: 204.2 - Posts: 4185)
Mon, 16th Jun '08 5:23 PM

I'm putting my money on Ken's answer (and anyone else who said the guy made $20). I think this is one of those math problems where you need to sort of ignore the story and just focus on what Ken said -- how much was spent and how much was collected? That's the key.

Now, if the guy sold Mr. Ed, that would be a whole different story.

-- Geri

bushyfox
Bushyfox  (Level: 174.4 - Posts: 2403)
Mon, 16th Jun '08 6:38 PM

I kinda figured he made ten bucks on the whole deal. Now, whether that ten bucks was coz the horse was a bronco, or in actual dollars, is another matter!

~Bev

papajensai
Papajensai  (Level: 192.9 - Posts: 1025)
Mon, 16th Jun '08 8:27 PM

The guy made $20 like I said.

Has anybody heard the joke about the midget with the speech impediment who wanted to buy a horse? It has to be heard, doesn't lend itself to the written word, and anyway it's too dirty and non-PC for a family friendly island like this. But the punchline is "Maybe I should restate my request. I'd like to see her run around a little."

Thought I would just die.

kittymama
Kittymama  (Level: 68.2 - Posts: 8)
Mon, 16th Jun '08 9:27 PM

Another way of figuring that he's $20 ahead (leaving out how much the horse increases or decreases in value, earns, produces, works, or consumes) is that he starts with $50. Then he buys the horse -- he's down $50, but he has a horse. Then he doesn't have the horse any more, but he has received $60. So he's made $10 more than his original $50. But then he spends $70 on the horse (or any horse -- assume they're all inherently worth "a horse" at any given moment), so he's spent his $60 plus another $10, meaning he's $10 in the hole below and beyond the original $50. Finally, he gets $80 for giving up the horse -- take off the negative $10, that leaves $70, so he netted $20. Same math, different explanation.

lovesmoodies
Lovesmoodies  (Level: 45.7 - Posts: 132)
Mon, 16th Jun '08 9:55 PM

All I know is that I come up with a different answer for each way I try to solve it. I usually solve problems a couple of different ways just to check myself. This one frustrates me.

alvandy
Alvandy  (Level: 229.3 - Posts: 7560)
Tue, 17th Jun '08 6:43 PM

$20 profit- but he spent it immediately at the candy store- buying peppermint patties.

tresgatos
Tresgatos  (Level: 204.2 - Posts: 4185)
Tue, 17th Jun '08 6:49 PM

Michele,
How about you post the different ways you're solving it where you're *not* coming up with $20 ahead, and then maybe we'll be able to see where you're going astray.

-- Geri

lovesmoodies
Lovesmoodies  (Level: 45.7 - Posts: 132)
Tue, 17th Jun '08 8:28 PM

Geri,

I'm just confusing myself and I have a really bad headache. I'll have to do it later...

Michele

tresgatos
Tresgatos  (Level: 204.2 - Posts: 4185)
Tue, 17th Jun '08 10:09 PM

Michele,
I hope you feel better soon!!

-- Geri

marsviking
Marsviking  (Level: 65.2 - Posts: 17)
Mon, 30th Jun '08 12:42 PM

He made a fortune.
How? He sold his horse twice without charging sales taxes. When the IRS went after him, he fled to Colombia where he met the daughter of a drug lord.

suzer22
Suzer22  (Level: 165.6 - Posts: 1982)
Sun, 27th Jul '08 1:27 PM

Simple math:

50 - 50 + 60 - 70 + 80 = 70

He started with $50 and no horse, and ended with $70 and no horse, for a profit of $20

zeedee
Zeedee  (Level: 224.7 - Posts: 1088)
Sun, 27th Jul '08 11:24 PM

If I go to a big flea market, say, with $50. I spend the day buying, selling, and trading. I come home with $80. I figure I made $30. It doesn't matter what I bought, sold, or traded in between. Those figures would just be distractors.

If I buy stock at $50 and sell at $80, I figure I made $30. (And that drives my hubby crazy, because, if in between the buying and selling the stock hit, say, $100 -- even for a just a few minutes -- he figures I lost $20. It's one of those "glass half full/empty" things.

suzer22
Suzer22  (Level: 165.6 - Posts: 1982)
Mon, 28th Jul '08 11:42 AM

Zeedee - your logic would not work here if you came to the flea market with ONLY $50 in your pocket; you would not have had enough money to buy the horse the second time. In the horse scenario you needed to have $60 of discretionary cash in your pocket before the days trading began. Then when you come home with $80 your profit would be $20.

mplaw51
Mplaw51  (Level: 179.5 - Posts: 1582)
Wed, 30th Jul '08 10:05 PM

-50+60-70+80=20
I don't know why, but numbers don't lie. His first purchase is a minus, he sold the horse for $60, it's a plus, he bought it again for $70, it's a minus, he sold it for $80 it's a plus. Final answer is $20. Start with a negative 50 then do the rest of the math. It makes sense because you're in the hole for $60 when you buy the horse for $70. Selling it for $80 would give you a profit of $20.
Please note I've contradicted myself from whatever date in June I categorically stated this man made only $10... WRONG ANSWER!

lbh58
Lbh58  (Level: 40.0 - Posts: 161)
Wed, 30th Jul '08 10:15 PM

A horse is a horse, of course, of course,
And no one can talk to a horse of course
That is, of course, unless the horse is the famous Mister Ed.


zeedee
Zeedee  (Level: 224.7 - Posts: 1088)
Sat, 2nd Aug '08 8:52 AM

Thank you, Suzer!
I can see the flaw that you pointed out in my analogy. I am satisfied with your explanation.
Diane


Pages:  1    



Copyright © 2003-2016 Sploofus Holdings LLC.  All rights reserved.
Legal Notice & Privacy Statement  |  Link to Sploofus