Riddle- Where is the money?

Discussion in 'General Precious Metals Discussion' started by SilverSurfer77, Oct 26, 2012.

  1. SilverSurfer77

    SilverSurfer77 Well-Known Member Silver Stacker

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    You saw a shirt for $97

    You don't have the cash, so you borrowed $50 from your mum and $50 from your dad

    $50 + $50 = $100

    You bought the shirt and had $3 change

    You gave your dad $1 and your mum $1 and kept $1 for yourself.

    Now you owe your mum $49 and your dad $49.

    $49 + $49 = $98 + your $1 = $99.

    WHERE IS THE MISSING $1?
     
    SilverSurfer77, Oct 26, 2012
    #1
  2. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    The one dollar you pocketed is still debt, you still owe your parents $2, the one in your pocket and the $1 you need to get from somewhere else. :)

    I would suggest putting the rent up in your negatively geared property to quickly pay down that debt and then you can buy 5 more shirts.
     
    mmm....shiney!, Oct 26, 2012
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  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Looks like the flaw is in the phrasing.

    $97 plus $1, plus $1, plus $1 = $100
     
    Clawhammer, Oct 26, 2012
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  4. lithium

    lithium Member Silver Stacker

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    You have a $97 shirt and $1 cash (total $98) which was paid for by $98 debt. There is no problem :)
     
    lithium, Oct 28, 2012
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  5. Au-mageddon

    Au-mageddon Active Member

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    The problem is you didnt buy direct from China ... when you could have paid $25 for the same shirt they market for $97.

    And the best bit is they try and say the difference is due to the 10% GST, not their own greedy mark-ups. :D
     
    Au-mageddon, Oct 28, 2012
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  6. hawkeye

    hawkeye New Member Silver Stacker

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    This reminds me of the FRB debate. The difference between assets and liabilities. You're mixing up the balance sheet.

    At the end of all that you balance sheet looks like

    Assets Liabilities
    $97 Shirt $49 owed to Mum
    $1 Cash $49 Owed to Dad

    Totals $98 $98
     
    hawkeye, Oct 28, 2012
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  7. hawkeye

    hawkeye New Member Silver Stacker

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    Or if you want to follow the $100 Cash.

    The store has $97.
    You have $1.
    Mum has $1.
    Dad has $1.
     
    hawkeye, Oct 28, 2012
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  8. iceblue

    iceblue Well-Known Member

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    Iam the BANK, hello, that last dollar is mine, in fact all the money is mine, we just let you use it for a fee.
    Good to see young people enslaving themselves to debt at such an early age, the Bank certainly encourages this.
    Now to work out the real cost of your purchase,
    We take Mum and dads pay each week for a fee
    Your Mum and Dad wanted to access OUR money for your purchase, so we charge another small fee.
    We need to keep and record the transaction details which results in a fee, its OK i will send your statement at the end of the month,for a small fee, if you dont have the money to pay us thats ok too, we can work out a loan for a small fee. We have pre approved you for a credit card, even tho you have no income, i will disclose all those fees when you miss a payment.

    BANK DE-SHAFT, bending our customers over backwards.
     
    iceblue, Oct 28, 2012
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  9. CriticalSilver

    CriticalSilver New Member Silver Stacker

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    Or taking the view from one of the parents:

    Assets Liabilities
    $48.50 (1/2 a shirt) One out of work Son
    $1.00 (cash)
    $0.50 (loan)

    Totals $50 One out of work Son
     
    CriticalSilver, Oct 29, 2012
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