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.
(In reply to
re: basic by Chan Wah)
You are right
I miscalculated!
However, even though he's even he has lost 20.00 because he originally got a deal when he bought a bike valued at 40.00 for half price.
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Posted by Andre
on 2003-08-04 16:51:43 |
re(2): basic, not so basic
