If a man buys a horse for $60, sells it for $70, buys it back for $80, and sells it again for $90, it may seem tricky at first to figure out his total profit. Let’s break down each transaction step by step.
First, he buys the horse for $60 and sells it for $70:
– Spent: $60
– Earned: $70
In this transaction, he made a profit of $10 (70 – 60 = 10).
Next, he buys it back for $80 and then sells it again for $90:
– Spent: $80
– Earned: $90
Here, he made another profit of $10 (90 – 80 = 10).
Adding both profits together, the man made a total profit of $20 (10 + 10 = 20).
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