The Puzzle Page is dedicated to bringing you the best puzzles collected from around the world along with original puzzles not seen anywhere else.

The staff at The Puzzle Page always enjoy seeing new puzzles and would love to hear from you. If you have a puzzle that's giving you problems, drop us a line -- we'd love to help.

Tuesday, February 12, 2008

The Enterprising Art Dealer

A London art dealer purchased a painting for £60,000 and hung it in her gallery. Many people liked the painting very much and she was able to sell it in a few weeks' time for £70,000. The very next day after the painting was delivered, another customer inquired about the painting and claimed they would be willing to pay £90,000 for it if it were still for sale. The art dealer borrowed £10,000 from her partner and bought the painting back from the original customer for £80,000 and was then able to sell it to the second customer for the £90,000 that had been agreed upon.

How much profit did the art dealer make in her transactions?


Bon said...

£10,000 from the first sale. The act of buying it back and selling it a second time netted her no profit.

ericanpro said...

No, It must be £20,000 ! The first step was an investment of £60,000 to get the painting. Forget the partner who lent him £10,000 and got them back in the end ... that's just a small distraction. The art dealer finally gets £90,000 for the painting leaving him £20,000 of profit for himself and £10,000 for the first customer who gave the painting back.

Anonymous said...

^She's female.

Here is what her bank record would look like( if she had no money left but no debt either):

-60,000 (for buying it)

+10,000 (for selling it)

+20,000 ( for BORROWING 10,000)

-60,000 ( for buying it back)

+30,000 ( for selling it)

+20,000 ( for giving back the money she'd borrowed)

I thought it was 10,000 but as I just proved, It's 20,000. :)

Anonymous said...

2,000 is correct.

Let's say she started with 6000.

6000 - 6000 = 0 (Purchase BY Dealer)
0 + 7000 = 7000 (Purchase FROM Dealer)
7000 + 1000 = 8000 (Borrow)
8000 - 8000 = 0 (Purchase BY Dealer)
0 + 9000 = 9000 (Purchase FROM Dealer)
9000 - 6000 = 3000 (Profit WITH Loan)
... and Finally subtract the loan.
3000 - 1000 - 2000