A man buys a horse for $60, sells it for $70, buys it back for $80, and sells it again for $90. How much money did he make or lose?
Check the answer below:
Let’s break down the transactions step by step:
First Transaction:
Buys the horse for $60.
Sells the horse for $70.
Profit: $70 – $60 = $10.
Second Transaction:
Buys the horse back for $80.
Sells it again for $90.
Profit: $90 – $80 = $10.
Total profit:
First transaction profit: $10.
Second transaction profit: $10.
Total profit: $10 + $10 = $20.
So, the man made a total profit of $20.
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