An Xmas Conundrum

[MrBamboo]

Im sure I knew the aswer to this years ago but for the life of me now...

I want to buy a business for 100K.. I borrow 50K off my Brother and 50K off my Sister. I bargain the person selling
the business down to 97K. So I have 3K left over. I decide to give give my Brother and Sister 1K each back and keep
1K myself...so now I owe my Bro and Sis 49K each and I have 1K.
So.. 49K x 2 = 98K and my 1K = 99K..where is the other 1K ???

[daviemac]

You can't work it out like that, you borrowed £100k spent 97 and that leaves 3. The fact you paid £1k each back is irrelevant as you borrowed £50 off each not £49.

[MrBamboo]

Not sure on that DM.. if I borrowed 50K of each
And paid IK back I owe them 49 K each ??
I know there is a logical answer.. just cannot
rember it..

[MrBamboo]

Remembered and solved 

[PepeMAGA]

Start the other way round, you are keeping 1k of 100k you borrowed and never contributed to. So at this point you still owe them both 50k, or if you refuse to pay them back they have to potential returns of 49.5k maximum. They will not get all the money back you borrowed from them.
The 1k each is owed to them anyway, so it doesn't make a difference if you give it them back with the rest of as a separate payment, it's not profit.

[MrBamboo]

Now I have remembered its simple.. 97K divided by 2 is
48.5K.. x 2 is 97K plus the 3K is 100 K..

[Dark Vader]

.

[MrBamboo]

.
This is why I will never be an accountant and I owe them a fortune...

[timsussex]

you are confusing 2 sides of the ledger
You borrowed 2x£50k =£100k you paid back £2k so you owe £98k ie £49k each

You spent £97k + £2k so you have £1k left and have assets of £98k

Its a bit like the trick to play on your kids (or grandkids in my case) to show you have 11 fingers
Hold up 10 fingers and from the left count down
10 9 8 7 6  closing a finger each time thus closing all your left hand
then count up on your right hand closing a finger each time
7 8 9 10 11 !

[scutty brown]

the real question is what kind of cheapskate buys a business using his family's money but not his own?   

[daviemac]

Not sure on that DM.. if I borrowed 50K of each
And paid IK back I owe them 49 K each ??
I know there is a logical answer.. just cannot
rember it..

You borrowed the 2 x £50k and spent £97k before you paid the £1k each back and you paid that back out of the £3k change, you are trying to deduct a sum from the original amount you haven't yet paid.

By the way you are trying to work it out you end up with £101k, 2x 49 = 98 + the 3 change you got = 101

[timsussex]

the real question is what kind of cheapskate buys a business using his family's money but not his own?   

Trump
El Fayed
Rishi Sunak ?

[Xtro]

Im sure I knew the aswer to this years ago but for the life of me now...

I want to buy a business for 100K.. I borrow 50K off my Brother and 50K off my Sister. I bargain the person selling
the business down to 97K. So I have 3K left over. I decide to give give my Brother and Sister 1K each back and keep
1K myself...so now I owe my Bro and Sis 49K each and I have 1K.
So.. 49K x 2 = 98K and my 1K = 99K..where is the other 1K ???

I believe the above to be a variation of the "missing dollar riddle";
External Link/Members Only

[mrwhite]

the real question is what kind of cheapskate buys a business using his family's money but not his own?   

There is this bloke in America called Donald - everything he boought was with other peoples money

[webpunter]

Trump
El Fayed
Rishi Sunak ?

Exactly the point as posted by @SB 

One of the best ever achieved was by the Glazers buying Wankchester Utd
They use Utd's balance sheet to borrow the money & Utd make the payments
At the top of google
'The total amount paid in interest alone since the takeover now stands at approximately £743m – all to service debts that the ownership placed upon the club in order to finance their own takeover'
This doesnt include repayments on the capital
Buy a club get someone else to pay later
Couldn't happen to a nicer football club, oh dear