I borrowed $100 from 2 friends and they gave me $50 each...?

Question

what i bought was just $97 so I gave them back $1 each. That means I only owe them $49 each. But when you add up $49 and $49 you come up with $98. I only have $1 left.

Where is the other $1 dollar???

Somebody asked me this but I was dumbfounded with this question. Please help.

obviously, i received $3 change.
so I gave them back $1 each.
49 + 49 = 98
but I only have $1 left.
98 + 1 = 99.
so, where's the other $1?

and FYI, this isn't my OWN question. i'm just posting this here so that I can say something to that housemate who asked this strange question.

Answer 1

100/2=50
50 50
-1 -1
49 49
49+49= 98
you gave them each 1 dollar back so 100-2=98.
You aren't missing a dollar.

Answer 2

There is no missing dollar... the reason you have one dollar left is because of the difference between the $97 item and the $98 still owed.

Look at it this way... let's say instead of borrowing $100, you borrowed $98 from them - $49 each. The item still costs $97. You have a dollar left, as expected, but you haven't payed them back so you still owe them $49 each. This scenario is identical, except in your scenario the two dollars you payed back are confusing the reader.

Or, let's say you give them each $1.50 back after the transaction, which would leave you with a $97 debt ($48.50 each) and no cash... this would be as expected.

Another more clear scenario is if you borrow the $100 and don't immediately return any money. You bought something for $97, you have $3 left. You still owe $100 because that is what you borrowed.

Answer 3

Looking at all the answers and people all agree that the total is $100 but seem to miss that you will only pay back $99 $50 + $50 = $100.
You spend $97 and give each friend $1 back. Which leaves you with $1.
If you paid each $1 you now owe each $49 that for a total of to $50 each ($100 paid back) but you still have the $1 you kept. Where did it come from???

Answer 4

Hmm. Seems tricky, but I'll give it a shot. You borrowed $100, and you spent $97, leaving $3 as change. You claim to give back $2 to your creditors ($1 to each person) and you still have $1 left. That makes $97+$2+$1= $100 that you borrowed. There's no other $1 anywhere else.
Also, you can look @ it this way: You gave back $2, meaning that you now actually owe $98 ($100 -$2). Considering the fact that you have already spent $97, you should have $1 left, which is what you have left anyway. That's my answer. I hope I get a reply to see if I got it right.

Answer 5

Why do u add 98 and 1. 98$ u have borrowed. U used only $97, so $1 left with u. Adding 98 and 1 is meaning less. If u want to check for $100, then $97 used up, $1 and $1 returned to ur friends and $1 left with u. Totally $100. Is there any problem? Hope it is clear.

Answer 6

Its a tricky question. Let me rephase in other way, make to trick more obvious to you.
Let said, you did not give back the $1 to the other two person. You will own them $50 each. When you add them up, you come out with $100 and you still have $3 left. If you add them up, you will have $103 and you only borrow $100 from you friend. You earn $3???
The $1 you have left could not be add to the $98 you own. Because when you add them up, it does not mean anything. The logical way will be to give the $1 back to the friend and then you will own them $97 which is the cost of the product that you bought.
Hope this is clear to you.

Answer 7

The item you bought was $97 so you had $3 change. You give two dollars away so you have $1 left. You spent $97 and kept $1 so you have $98 - the amount you owe.

Answer 8

There is no other dollar. You can regard this in 2 ways: 97$ + 1$(in your pocket) = 2*49$ or 97$ + 1$ (in your pocket) + 2$ (refund) = 100$

Answer 9

Because you are asking an irrevelant question. asking where the other dollar is does not fit the scenario. Let me explain. 50+50=100, 100-97=3, 3 left, now he gives one to each, 1+1=2, he still has one, that makes 3. Now, if he owes them each 49 now, that is fine, you base what he owes on what he borrowed and paid back, not what he bought!

Answer 10

Uh... 97+1+1=99

So you never did anything with the extra dolar but pay it back later.

Here's your cash flow:
step You Buddy1 Buddy2
loan +100 -50 -50
purch -97
payment -2 +1 +1
sub-tot +1 -49 -49

Wait.. is this a mind game? Did you not get all your money back or get too much change or something?

Answer 11

This is actually a dumb question to get people confused

One of the $49 you returned includes the one dollar left with you ($3 -$2 (1 to each of your friend)). You already gave $1 each so you are clear of your debts. Nothing to get confused