Buy And Sell | 1 Aug 2009

Go4Expert Founder
1Aug2009,19:48   #1
shabbir's Avatar
A person buys grains for 10 $ and sell them for 1 $ and he becomes a millionaire. How ?
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1Aug2009,19:59   #2
SaswatPadhi's Avatar
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
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1Aug2009,22:10   #3
Raj08's Avatar
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
Go4Expert Founder
2Aug2009,08:29   #4
shabbir's Avatar
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.
Security Expert
2Aug2009,09:47   #5
indiansword's Avatar
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
Invasive contributor
2Aug2009,21:57   #6
nimesh's Avatar
Congrats Saswat
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3Aug2009,18:12   #7
SaswatPadhi's Avatar
Thanx everyone