Pri Sch Maths Qns That 99/100 Uni Students Got Wrong
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I attempted in using yr method as well..but my initial balance was 10000Originally posted by eagle:sorry me took so long... was trying to think of some way easy to understand
so count here count there all jumbled liao 
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why cant u let initial be $0
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I toopid mahOriginally posted by Ignorance:why cant u let initial be $0 -
$0 how to start businessOriginally posted by Ignorance:why cant u let initial be $0 -
Originally posted by eagle:$0 how to start business
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why Mr Wang so unlucky one, i bet he more dulan abt his luck than his loss.....which = $97
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Mr Wang bought the gift at $18.
(-$18
Young man buy for $21.
Profit: $3
(+$3)
Young man gave him fake $100. Mr Wang go shop to change for small notes.
Mr Wang gave him back $79 change.
(-$79)
Shop keeper discovered tt the $100 is fake, wants real $100 back. So Mr Wang paid $100.
(-$100)
My guess: 100+79+18-3 = $194 -
Answer already out on first page
It seems that everyone noticed the $100 paid out, but not the $100 gained.
To put it in a more obvious way...
Mr Wang had gained $100 from the nearby shop since his note was counterfeit, means =$0. He merely returned what he had gained, hence making no loss -
hm... smart.
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its 100 + 79 + 18 - 21
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young man give fake $100 dollars. (0 dollars atm)Originally posted by huiz:from another forum:
A young man wants to buy a gift at Mr Wang's shop. The item's cost price is $18, while the selling price is $21.
The young man pays with a $100 bill, but Mr Wang has no change. Mr Wang then goes to a nearby shop to change $100 of small notes, and returns the young man $79.
Subsequently, the nearby shop finds the $100 to be counterfeit, so Mr Wang has to return the shop $100.
How much did Mr Wang lose?
exchange for small notes (mr wang get free $100)
returned $79 to young man (mr wang makes a profit of $3 cos you have to take note of selling price - cost price here)
mr wang returned $100 dollars to shopkeeper.
long working: 0+100-79-18-100=-$97 -
so the above is the answer??
i don't understand...
i also think it's 197 bucks.
my reason is this:
Mr Wang had earned nothing from selling away the gift. he's giving the gift away to the young man, plus $79!! whaha! so he loses $79.
and then changing money with the nearby shop, there is no gain or loss at all right. it's just breaking down notes. yet, unfortunately, the $100 note was found to be fake and Mr Wang has to return the nearby shop $100.
so here he loses another $100.
and he made a loss of $18 because Mr Wang bought the gift at $18, didn't he? if he gave away the gift, means he lost $18 la.
so all this add up to $197. -
how u noe that answer is correct
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actually i think the solution might just be 100. You dont care about the selling price - cost price cos he also needs money to set up his shop. So i think the simple answer is he got cheated of $100. To an economist, mr wang lost the opportunity cost of earning $3 too so he lost $100 in all.
The shopkeeper did give mr wang $100 of small changes so he only returned back $100 also so theres no bad deal with the other shopkeeper.
uni sux. that's why i am the 1/100 uni students who got it right -
i think its $97 too.
1) boy give FAKE $100
2) mr wang change FAKE $100 to REAL $100
3) mr wang give boy change and he earned $3 (selling - cost)
4) mr wang pay money changer $100
$3 - $100 = -$97
mr wang lost $97 -
why no one read this and keep saying it is 197Originally posted by eagle:Answer already out on first page
It seems that everyone noticed the $100 paid out, but not the $100 gained.
To put it in a more obvious way...
Mr Wang had gained $100 from the nearby shop since his note was counterfeit, means =$0. He merely returned what he had gained, hence making no loss -
answer is 100. $79 to the cheat + $18 stuff + $3 (opportunity cost)
edited again: count wrongly. Initially i counted $69 lol. -
not enough parameters to answer question.
what does loss mean? on potential profits, on cost?
whats the value do we input in the altercation with the other shop owner? is there some gain or loss in the relationship? is there an effect?
what about the time spent? -
opportunity cost i mean.Originally posted by hisoka:not enough parameters to answer question.
what does loss mean? on potential profits, on cost?
whats the value do we input in the altercation with the other shop owner? is there some gain or loss in the relationship? is there an effect?
what about the time spent?
Imagine if you sell one big mac, selling price $3 but the cost price is $2.
A man who cheated you of $100. You give the cheat $97 + $2burger + make a loss of $1 (opportunity cost) -
Other shop loss = $0
Young man gain = $79(cash) + $18(goods) = $97
Therefore, Mr Wang loss = $97 -
as i said not enough parameters. whether you want to measure opportunity cost is also one of themOriginally posted by HyuugaNeji:opportunity cost i mean.
Imagine if you sell one big mac, selling price $3 but the cost price is $2.
A man who cheated you of $100. You give the cheat $97 + $2burger + make a loss of $1 (opportunity cost) -
I understand what you mean by parameters and its up to individual to access the importance of opportunity cost.Originally posted by hisoka:as i said not enough parameters. whether you want to measure opportunity cost is also one of them
let me exaggerate the example.
A A320 airbus plane cost 180millions to make and the selling price is at $210million. Someone paid $1000million dollars but its fake (doh!)
You have to return the person $790million +$180million plane +$30million (opportunity cost) -
walau, pri sch math got opportunity cost????
its a pri sch question so we have to answer using pri sch student's logic. -
198 bucks