Friday, October 24, 2008
I Need a Loan
John had only $2, but he needed $3 for his cab fare home. He went to a pawn shop and pawned his $2 for $1.50. John then bumped into Dan and told him that he would sell him his $2 pawn ticket for $1.50. Dan agreed. Since John started out with $2, and he ended up with $3, who is out the extra dollar and why?
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Okay, this is just a guess. I would say even though John ended with $3 he is still the one out $1.
ReplyDeleteHe lost .50 with the pawn and he lost .50 more when he sold a $2 ticket for $1.50????????
Serena
Dan isn't too bright. He's out the dollar. The $2 ticket costs $1.50 to redeem, so really it's only worth 50 cents, but John didn't put that together. I liked this one. Very simple, but sneaky...
ReplyDeleteNice try, Serena, but Abe got it right. This one was sneaky.
ReplyDeleteDan is out the dollar. Not only did he give $1.50 to John for the $2 ticket, but he'll have to give $1.50 to the pawn broker to get the $2. So, he'll be out $3 in total.