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-   -   Buy And Sell | 1 Aug 2009 (http://www.go4expert.com/contests/buy-sell-1-aug-2009-t18778/)

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 ?

SaswatPadhi 1Aug2009 19:59

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 :)

SaswatPadhi 3Aug2009 18:12

Re: Buy And Sell | 1 Aug 2009
 
Thanx everyone :happy:


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