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 shabbir 1Aug2009 19:48

Buy And Sell | 1 Aug 2009

A person buys grains for 10 \$ and sell them for 1 \$ and he becomes a millionaire. How ?

Re: Buy And Sell | 1 Aug 2009

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 :D

 Raj08 1Aug2009 22:10

Re: Buy And Sell | 1 Aug 2009

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 2Aug2009 08:29

Re: Buy And Sell | 1 Aug 2009

Quote:
 Originally Posted by SaswatPadhi (Post 54029) 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 :D
Perfect

Quote:
 Originally Posted by Raj08 (Post 54030) 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 2Aug2009 09:47

Re: Buy And Sell | 1 Aug 2009

Quote:
 Originally Posted by SaswatPadhi (Post 54029) 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 :D

Congrats !

Quote:
 Originally Posted by Raj08 (Post 54030) 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 2Aug2009 21:57

Re: Buy And Sell | 1 Aug 2009

Congrats Saswat :)