Solution Step 0/0
A dealer bought a painting for $70, sold it for $80, bought it back for $90, and sold it again for $100.
How much profit did he make?
How much profit did he make?
Explanations
There are different approaches to view this problem and the subtle inconsistencies lead to incorrect conclusions at the end.The simplest way to view this problem is perhaps this: his total expenses are $70 + $90 = $160. But his income amounts to $80 + $100 = $180. Overall profit: $20.
Check $10 loss
Check Breaks even
Check $10 profit
Check $20 profit
