I Bought a Purse for $800. I Sold It for $1,000. I Bought It Again for $1,100. I Sold It Again for $1,300. How Much Money Did I Make? Riddle Answer
by Priyanka P | Updated Jan 31, 2024
I bought a purse for $800. I sold it for $1,000. I bought it again for $1,100. I sold it again for $1,300. How much money did I make? Riddle
In this purse-buying adventure, you started by purchasing a purse for $800. Excitedly, you managed to sell it for $1,000, making a tidy profit. However, the desire for more led you to buy the same purse again, this time for $1,100. Undeterred, you successfully sold it once more, this time for $1,300. Now, calculating the overall financial outcome of your journey requires tracing the path of your money.
Initially spending $800, the sale boosted your funds by $200. Yet, the subsequent purchase brought your balance down by $900. Finally, selling the purse for the second time added $400 to your pocket. To determine the total gain or loss, you must consider the cumulative effect of these transactions.
In summary, as you analyze the sequence of buying and selling, the final outcome of your financial endeavor becomes clear. Whether your purse pursuits resulted in profit or loss hinges on the arithmetic of these transactions, unveiling the answer to the riddle.
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I bought a purse for $800. I sold it for $1,000. I bought it again for $1,100. I sold it again for $1,300. How much money did I make? Riddle Explained
You embarked on a financial journey with the purchase of a purse for $800. Your first transaction involved selling it for $1,000, marking a $200 profit. Undeterred by the initial success, you decided to buy back the same purse for $1,100, resulting in a net loss of $900 when considering the initial purchase.
However, your persistence paid off during the second round of selling, where you managed to fetch $1,300 for the purse. This successful transaction added $400 to your balance, mitigating the previous loss.
To calculate your overall gain or loss, you can summarize the financial impact of each step. Starting with the initial investment of $800, your first sale brought in $200, reducing the net cost to $600. The subsequent purchase increased the total expense to $1,700. However, the final sale of the purse for $1,300 generated a $400 profit.
In the end, when you subtract the total cost from the total earnings, you find that you made $400 in profit through the entire series of buying and selling the purse. Your financial strategy turned out to be successful, resulting in a positive outcome.
What is Riddle?
A riddle is a puzzling statement, question, or phrase designed to challenge one's thinking and problem-solving abilities. There are two main types of riddles: enigmas and conundra. Enigmas present problems in metaphorical or allegorical language, requiring careful thought for a solution. Conundra, on the other hand, rely on wordplay, often involving puns in both the question and the answer.
Riddles are found in diverse cultures globally, showcasing their universal appeal. They serve as a form of intellectual entertainment, encouraging individuals to decipher hidden meanings and think creatively. While myths encode social norms, riddles playfully cross conceptual boundaries, revealing that things may not be as straightforward as they appear.
Overall, riddles are engaging puzzles that stimulate cognitive skills, making them an intriguing and enjoyable part of human expression and cultural heritage.
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Solving riddles offers several advantages, making it an enjoyable and beneficial activity:
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Riddles often present complex challenges in a concise format. Solving them hones your ability to analyze information, think logically, and find innovative solutions.
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I Bought a Purse for $800. I Sold It for $1,000. I Bought It Again for $1,100. I Sold It Again for $1,300. How Much Money Did I Make? Riddle - FAQs
A riddle is a puzzling statement or question designed to challenge thinking, often involving metaphorical language or wordplay.
You made $400 in profit by buying and selling the purse strategically.
Archer Taylor highlighted the presence of riddles in diverse cultures globally, spanning Finnish, Hungarian, American Indian, Chinese, Russian, Dutch, and Filipino traditions.
Enigmas, requiring thoughtful interpretation, and conundra, relying on wordplay and puns in both the question and the answer.
Riddles play with conceptual boundaries, challenging the stability of perceived truths, providing intellectual pleasure in revealing complexities.
Myths encode and establish social norms, while riddles playfully cross conceptual boundaries, affirming the pleasure derived from challenging cognitive norms.