Buy And Sell | 1 Aug 2009

shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
A person buys grains for 10 $ and sell them for 1 $ and he becomes a millionaire. How ?
SaswatPadhi's Avatar, Join Date: May 2009
~ Б0ЯИ Τ0 С0δЭ ~
The man was initially a billionaire
He bought huge amount of rice (at $10) and sold it to poor people at affordable prices ($1).

In this process, he lost so much that he became a millionaire
Raj08's Avatar
Banned
Alternate solution:

Based on exchange rates, for every dollar he spends on rice in the U.S., he earns two Indian Rupees. So, he could become a millionaire in Rupees without spending a million U.S. dollars
shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
Quote:
Originally Posted by SaswatPadhi View Post
The man was initially a billionaire
He bought huge amount of rice (at $10) and sold it to poor people at affordable prices ($1).

In this process, he lost so much that he became a millionaire
Perfect

Quote:
Originally Posted by Raj08 View Post
Alternate solution:

Based on exchange rates, for every dollar he spends on rice in the U.S., he earns two Indian Rupees. So, he could become a millionaire in Rupees without spending a million U.S. dollars
Still could not understand this. Can you please explain.
indiansword's Avatar, Join Date: Oct 2008
Security Expert
Quote:
Originally Posted by SaswatPadhi View Post
The man was initially a billionaire
He bought huge amount of rice (at $10) and sold it to poor people at affordable prices ($1).

In this process, he lost so much that he became a millionaire

Congrats !


Quote:
Originally Posted by Raj08 View Post
Alternate solution:

Based on exchange rates, for every dollar he spends on rice in the U.S., he earns two Indian Rupees. So, he could become a millionaire in Rupees without spending a million U.S. dollars
Cudnt understand that either
nimesh's Avatar, Join Date: Apr 2009
Invasive contributor
Congrats Saswat
SaswatPadhi's Avatar, Join Date: May 2009
~ Б0ЯИ Τ0 С0δЭ ~
Thanx everyone