₦airaland Forum

He didn't make any profit #0

20 dollars

He made only $20.
His initial cost was $60, after the first transaction, he added another $10. His total cost was $70. His profit is total revenue minus his total cost = $90-$70=$20

galantjoe:
Profit = selling price - cost price
1st transaction
70-60=`0

2nd transaction
90-80=10

Total profit 10+`10 = 20

In the first transaction, he made 10 bucks,very correct
BUT
When he wanted to buy it again, he had to source for 10 bucks to add to the 70 in his hands to make 80 for the new buying price

$30

The man made nothing


Waste of time

muyico:
Simple equation but logic! Who can solved this equation??

This question is not complete.

Is the goat male or female?

Total cost of purchase= 60+80= 140.
Total cost of item sold= 70+90= 160
Profile margin = 160-140= 20

Total profit= 20.

This is Accounting, not Mathematics

$20.

Explanation:
First trade: Bought for $60, sold for $70 → profit $10.
Second trade: Bought back for $80, sold for $90 → profit $10.
Total profit = $10 + $10 = $20 (ignoring any other costs

He made no gain nor loss!

He didn't make anything

-$10+$10 = $0

$0

vicshub:
Total cost of purchase= 60+80= 140.
Total cost of item sold= 70+90= 160
Profile margin = 160-140= 20

Total profit= 20.

Remember he sold for #70 and bought another one for 80 where did he see the #10 to buy another one?

muyico:
Simple equation but logic! Who can solved this equation??

I have ₦100. I bought a goat for ₦60. I am left with ₦40. I sold my goat for 70, so I have ₦110 now(40+70). I bought the goat back for ₦80 out of my ₦110. I have ₦30 left again. I sold it again for ₦90. So I have 120 now. Profit = 120 - 100= 20

Things must not be assumed into a question.

Total cost of transaction = 60 + 80 = $140.

Total Revenue made = 70 + 90 = $160

Total Profit= Total Revenue minus Total Cost

$160 minus $140 = $20

This, his total Profits in both transactions is $20.

Tosin1231:
He didn't make any profit #0

Tinubu Agbero would have cut ticket for the man and profit would have gone

0 naira

muyico:
Simple equation but logic! Who can solved this equation??

He gain N10 on each transaction. So the answer is N20

muyico:
he said total profit not total lost,
Notinz concerns U abt d lost, just calculate the profits he made

Won't Tinubu Agbero cut ticket for the man?

He made 20$ because assuming he borrowed 10$ to buy back at 80$, the 10$ will be returned with the profit he made selling at 90$. So 90-10=80, and initially he started with 60. Omo he good to borrow brain sometimes.

He spent $70 of his own to make $90.

$20

Revenue - expense = profit

Total revenue = 90 + 70 = 160

Total expense = 60 + 80 = 140

Total profit = 160 - 140 = $20

I see why the question is confusing tho and why people think it’s a $10 profit. One could say he added his first profit to his selling price so the profit is gone.

Simplify it for yourself, how much did he start the business with and how much did he end up with? He never introduced new capital in this equation.

Assume he borrowed for both transactions, he made 20bucks.

$20.
Buying price = $60 + $80 = $140.
Selling price = $70 + $90 = $160.
Profit: Total selling price - Total buying price
$160 - $140
=$20.

Nairalander248:
You are a genius.. na like this those saying 10$ and total lost dey fail exams

Total profit is 10$ each making it 20$

Will be true if the question say how much did he make in each transaction. Not total.

Achor1111:
Comprehend ko, comprehensive ni!
Stop displaying your ignorance!
The answer is $20

very tricky one. I don abuse you before I realized na me miscalculate

He has $60 to start a business.
He bought goat with it.
He sold it for $70.
He decided to buy the goat again for business and he was told the goat now cost $80 but the total money with him is now $70 i.e the initial capital plus the gain he made from first transaction.
He decided to borrow $10 from his friend to make up the $80.
He sold the goat for $90.
He paid back $10 he borrowed.
He's left with $80.
Remember he started the business with $60 capital. At this point, he owes no one.
So, how much has he made from the transactions?

This is a simplified explanation for those with poor understanding that are giving ridiculous answer (some of you should not even consider doing business transactions).

Zero

He did not make any profit. He lost gallantly the way Peter obi and El Rufai lost yesterday'election.

the goat seller made no profit