A trader bought an item for 7 dollars, sold it for 8, he bought it back for 9 and finally sold it for 10. How much profit did he get?

Question

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Answer 1

It may sound complicated, because of all of the back and forth, but it really isn't.

 

There are two ways to think about it:

 

 

1. How much did he pay out, total?  That's 7 + 9 = 16.

 

How much did he take in, total?  That's 8 + 10 = 18.

 

So his profit would be 18 - 16 = $2

 

 

2. Think of it as two separate items.  The first one was bought for 7 and sold for 8.  That's $1 profit.

 

The second one was bought for 9 and sold for 10.  That's another $1 profit.

 

So the total profit is $2.