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Sunday, July 10, 2011

'Missing Peso Mystery' Solved


Why should the boy keep the peso? He shouldn't!

The news said PNoy was perplexed by a missing peso mystery.

100 Hundred Peso Bill
PH Piso currency
Aquino shared with the audience a mathematical riddle which he could not answer, the news said.

The riddle runs this way: A kid wanted to buy a P97 peso shirt so he borrowed P50 from his father and another P50 from his mother. The kid went to the store and bought the shirt for P97 with P3 in change. When he returned home, the kid gave P1 to his father and another peso to his mother to reduce the debt and kept the other P1 for himself.

The question was 49 plus 49 gives you 98. Add the one peso that the boy kept, that’s 99. He got 100 to begin with. "What happened to the peso?" the President asked.

I analyze this puzzle or riddle for 20 minutes. And this is different from math wizard Finance Secretary Cesar Purisima who solved the math problem for the President Noynoy.

This is what I got in solving this missing peso puzzle:

The boy shouldn't keep the P1 in order "to reduce the debt" totally. He should repay it back to his mother or father. If not, the problem couldn't be solved. But if he's going to return or repay the remaining P1 to either to his father or mother, his outstanding account will be P97, which is equaled to the amount of the T-shirt he bought. And that's the amount he owed from his parents. No peso is missing!

Solved!

In simple accounting, the boys borrowed P100. P100 was his liability and the cash of P100 was his capital. He bought the T-Shirt for P97 and he got a change of P3. The T-shirt cost P97 was his asset and the P3 was his remaining capital. Thus, the cost of T-shirt and a cash of P3 sum up to P100.

Now when he repaid the P2 to his parents, his liability of P100 was reduced to P98 and compared to his asset of P97 T-shirt and a capital of P1, making it P98, which balanced with his liability of P98. The remaining P1 should not be added to his liability of P98, for that's a different account. Well, if he's going to repay his remaining change of P1 to his parents, then his liability becomes P97 and his asset which the T-shirt cost P97. The account equation is balanced. P97 liability = P97 asset. That's simple accounting! No peso then is missing!

Another illustration which seems absurd. I want to borrow from you P100. The only cash you have is P75. So you lend me P75, but you owe me P25. Isn't it? If that will be the case it seems that you owe me P25 which I have not received it from you. Does it sound feasible? Of course, not!

That's true to P99. Why the P1 is missing? The P1 peso should not be added to P98 for it is a liability. The p1 is a capital. Instead it should be added to the cost of the T-shirt which is P97, making it P98. Or it should be deducted from P98 [(49 + 49) - 1], making it P97, which is equaled to the cost of the T-shirt. Clear?

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Source: mb.com.ph - 'Missing peso mystery' baffles Aquino

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