A man buys a goat for 60$. He sells it for 70$, he buys it back for 80$ and sells it for 90$.How much did the man make or lose? Answer: The correct answer is $20
First calculate the man’s losses: $60 + $80 = $140
Now, calculate his wins: $70 + $90 = $160
Now calculate his loss vs. wins: $160-$140= $20 ……….TA DA!
If that didn’t make sense, here is another explanation:
The man buys a goat for $60.
He sells it for $70, making a profit of $70 – $60 = $10.
He buys it back for $80, spending $80.
He sells it again for $90, making a profit of $90 – $80 = $10.
Adding up the profits from both transactions, the man made $10 + $10 = $20.
So, overall, the man made a profit of $20.