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word problem

 
 
yitwail
 
  1  
Reply Wed 27 Jun, 2007 07:27 pm
Pauligirl wrote:

Seems to me: Gross gain was $20.00 Net gain (after expenses) was $10.00. That's the financial outcome. Doesn't matter if it was the same bicycle or not.

That's also just my opinion.

P


i think i can answer that one. it's the same as buying 100 shares of XYZ stock. you only make or lose money when you sell the stock. so, there's no money lost when he buys a bike back for $10 more than he sold it. he only loses money if he then sells it for less than he paid for it. so, if he buys it for 70, then sells it for 60, he's lost 10 and financial outcome is break even, wiping out the 10 he made when he bought for 50 & sold for 60.
0 Replies
 
Eva
 
  1  
Reply Wed 27 Jun, 2007 09:13 pm
Remember Accounting 101?

Total Income ($60 + $80 = $140)
less Total Expenses ($50 + $70 = $120)
equals Net Profit/Loss (+$20)
0 Replies
 
fresco
 
  1  
Reply Wed 27 Jun, 2007 11:42 pm
Quote:
but what if the problem is presented not to an algebra class, but a heterogeneous (wrt math knowledge) group of learners? can we justify the solution without introducing the unknown x?


No contrived question has "justification" in its own right ! Laughing
Most kids realize that they are merely exemplars of particular solution methods. "Answers" are of secondary importance.(Consider for example the effects of inflation in your particular example :wink: )
0 Replies
 
raprap
 
  1  
Reply Thu 28 Jun, 2007 09:13 am
Re: word problem
yitwail wrote:
A boy bought a bicycle for $50 and sold it to a neighbor for $60. He then bought the bicycle back for $70 and sold it again for $80. What do you think was the financial outcome of these transactions?


P=-$50+$60-$70+$80=$20

rap
0 Replies
 
yitwail
 
  1  
Reply Thu 28 Jun, 2007 01:06 pm
Eva wrote:
Remember Accounting 101?

Total Income ($60 + $80 = $140)
less Total Expenses ($50 + $70 = $120)
equals Net Profit/Loss (+$20)


WOW! Surprised

(how did i ever manage without taking accounting? Embarrassed )
0 Replies
 
cicerone imposter
 
  1  
Reply Thu 28 Jun, 2007 01:09 pm
These word problems are good, becaues it makes you "think" of how to solve the problem - especially for us seniors who must continue to challenge our gray matter.
0 Replies
 
yitwail
 
  1  
Reply Thu 28 Jun, 2007 01:16 pm
fresco wrote:

No contrived question has "justification" in its own right ! Laughing
Most kids realize that they are merely exemplars of particular solution methods. "Answers" are of secondary importance.(Consider for example the effects of inflation in your particular example :wink: )


i beg to differ. it may be contrived, but it's supposed to help kids become productive members of society! Mad

good point about inflation. i suppose he should take his $80 & buy some gold jewelry instead of another bicycle. Laughing
0 Replies
 
Eva
 
  1  
Reply Thu 28 Jun, 2007 04:34 pm
Re: word problem
You're so right, c.i.!
It's a very good problem for exercising the brain...unless you use a calculator. Rolling Eyes

raprap wrote:
P=-$50+$60-$70+$80=$20
0 Replies
 
Eva
 
  1  
Reply Sat 30 Jun, 2007 09:13 am
Okay, yitwail. We've waited long enough.

What is the correct answer?
0 Replies
 
TTH
 
  1  
Reply Sat 30 Jun, 2007 09:35 am
cicerone imposter wrote:
At least most of try to answer the question at the risk of being wrong.
You're wrong before even trying.

cicerone imposter wrote:
These word problems are good, becaues it makes you "think" of how to solve the problem - especially for us seniors who must continue to challenge our gray matter.


I did try by thinking. I didn't write it down, I visualized it in my head instead.

Eva
I feel it is still a misleading question but it intends to be so I would say the answer is $20.00
0 Replies
 
yitwail
 
  1  
Reply Sun 1 Jul, 2007 02:33 am
sorry, Eva, i've been tied up for a few days. *my* answer is 20, which i think is *the* answer, or at least the *best* answer.
0 Replies
 
Eva
 
  1  
Reply Sun 1 Jul, 2007 08:04 am
Thanks!
0 Replies
 
 

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