{"id":1266,"date":"2018-01-07T04:18:10","date_gmt":"2018-01-07T04:18:10","guid":{"rendered":"https:\/\/kellyfish.me\/?p=1266"},"modified":"2018-11-04T00:54:43","modified_gmt":"2018-11-04T00:54:43","slug":"counting-money","status":"publish","type":"post","link":"https:\/\/kellyfish.me\/index.php\/2018\/01\/07\/counting-money\/","title":{"rendered":"Counting Money"},"content":{"rendered":"

Fun Math for Girls
\n<\/span>By Kelly Tan<\/span><\/span><\/p>\n

\"\"<\/span><\/p>\n

Do you enjoy going out with friends, having lunch, or watching movies? Usually you will spend money on these occasions. Sometimes you treat your friends, other times they pay for you.<\/span><\/p>\n

That is great. But you have to mind your money. Keeping track of your money is an life skill you need to master when you grow up. Now let’s see if you can figure out this puzzle.<\/span><\/p>\n

Suppose 3 guests checked in to a hotel room. The bellboy informed them that it costs $30 a night. The 3 guests decided to split the cost equally. Each handed a $10 bill to the bellboy.<\/span><\/p>\n

When the bellboy handed the money to the manager, the manager said that there was actually a discount that day, and the room only costs $25. The manager returned $5 to the bellboy. Wanting some tips, he kept $2 for himself, and returned $3 to the guests. The 3 guests took back $1 each.<\/span><\/p>\n

To summarize, the 3 guests each paid $9 for a total of $9\u00b73=$27. The bellboy kept $2, so the total amount of money is $27+2=$29. But the 3 guests originally paid $30. Can you figure out where the missing $1 is?<\/span><\/p>\n

To keep track of every dollar, you need to account for the expenses (what you paid) and revenues (what you earned) of the guests, the hotel, and the bellboy, separately. For the 3 guests, we can fill the following table for them:<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03 guests\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Expense\u00a0 \u00a0 \u00a0 Revenue
\n<\/span> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Initial payment\u00a0 \u00a0 \u00a0 \u00a030
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Bellboy return\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 3
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0————–\u00a0 \u00a0————–
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Total\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 30\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 3 <\/span><\/span><\/p>\n

For the bellboy and the hotel, you need to create separate tables for each one. For the bellboy, it will be:<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Bellboy\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Expense\u00a0 \u00a0 \u00a0 Revenue
\n<\/span> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Tip\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a02<\/span>
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0————–\u00a0 \u00a0————–
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Total\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 2<\/span><\/span><\/p>\n

And for the hotel:<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Hotel\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Expense\u00a0 \u00a0 \u00a0 Revenue
\n<\/span> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Room charge\u00a0 \u00a0 \u00a0 \u00a00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a025<\/span>
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0————–\u00a0 \u00a0————–
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Total\u00a0 \u00a0 \u00a0 \u00a0 \u00a00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a025<\/span><\/span><\/p>\n

If you examine these tables closely, you will notice that the sum of expenses for all parties is $30, and the sum of revenue for all parties is $3+2+25=$30. So, both the expenses and revenues add up to the same value, $30.<\/span><\/p>\n

The table for the 3 guests can also be rewritten differently. Some people may consider the $3 returned not as revenue, but as a reduced expense. The $3 can be moved to the expense column, but as negative value:<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03 guests\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Expense\u00a0 \u00a0 \u00a0 Revenue
\n<\/span> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Initial payment\u00a0 \u00a0 \u00a0 \u00a030
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Bellboy return\u00a0 \u00a0 \u00a0 \u00a0-3\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ————–\u00a0 \u00a0————–
\n<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Total\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 27\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0<\/span><\/span><\/p>\n

Again, if you sum up the expenses and revenues for all parties, the total sums should equal (Expense: $30-$3=$27; Revenue $2+$25=$27)<\/span><\/p>\n

So, the issue with the original question is that it mixes numbers from both the expense and revenue sides. It adds the expense of the 3 guests ($27) with the revenue of the bellboy ($2) to equal $29, and expects it to equal to the initial payment of $30. This does not make sense, and is not the way to balance your account.<\/span><\/p>\n

By properly keeping track of the amounts of each transaction, as well as whether it is an expense or a revenue, you should be able to make sure every single dollar you spend makes perfect sense.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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