Mike wanted to buy a bike, and he found one he liked at $20, so he bought it. The next day, a friend saw it and offered $30 dollars for it so Mike agreed. He later bought it back for $40. Again someone saw it and offered $50 and again Mike sold it. Mike finally rebought the bike for good for $60. Mike then took it to a bike show where a man told him the bike was worth $40.

Deciding to keep it, did Mike gain or lose money on the transactions? Count the bikes worth in the problem.

Mike broke even in the end, considering the bike's value.

$120 spent for the bike

$80 made on the bike + $40 value of the bike.

NOW consider poor Mike's wishy-washy behavior, and...

Posted by whome? on 2005-01-09 20:04:21