Tuesday, 5 April 2011

Down Payment

Answer, as given by TheGeneral: I think the flaw is in the $1 minimum interest. Even though he has $0 owing, the interest rate will round zero up to $1. The bank is not committing fraud so long as when Roy signed up, all the fees etc. were in writing and Roy signed the contract. Roy cant sue or whatever, the best thing to do would be close the account and stop getting ripped off every month.

You're absolutely right, TG! You get brownie points =). And that brings up another very important point that people don't seem to remember nowadays: Be careful what you're signing for. How many of you will read through a contract that the bank gives you before you sign it? Very few I bet. Especially with the dozens of pages that they toss your way. But you do need to know what you're putting yourself up for, be it a credit card, a mortgage, a car dealership, etc etc...

A wizard pops into his local magic store to buy a new pet toad. Unfortunately, he only has £2 on him and the toad costs quite a bit more than this. He therefore asks the shopkeeper if he can pay £1 now and the rest the following week. The kind shopkeeper agrees to this and the wizard leaves the store happy with £1 in his pocket and a toad. How much does the toad cost?

41 comments:

  1. Yes always reading carefully though ANY type of agreement is a good idea. As for the riddle; im going to guess 7£?

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  2. This puzzle is meant to be said out loud, as it's a play on words. "A toad" is supposed to sound like "eight owed," so the wizard walks out of the store with £1 and eight owed. £8 plus the £1 he already payed, the total amount for the toad was £9

    My maths teacher told a similar riddle to my class a few years ago.

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  3. good job@ pezasied!

    this reminds me of the four candles sketch by the two ronnies. :D

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  4. So true about the contracts, but when they shove so much paper at you it's so hard to convince yourself to read it all. They should really be more forthcoming about things that effect you.

    I was stumped with this one until pezasied answered it, then I did the whole OOOHHHH thing :)

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  5. Lol :D Impossible to solve for me :D

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  6. enough .. I can't solve it :D

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  7. i cant solve :D

    http://le-nerd.blogspot.com/

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  8. I could not solve it, then i read the comments and this is a hard one!

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  9. If you go with the puns, I'd guess it cost 9 bucks.

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  10. Great, I love stuff like this! ^^

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  11. Back from Holliday!
    What a way to start back into blogging.
    Im gonna go with £9.

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  12. I would never have figured that out myself ._.

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  13. the answer is thirty seven pounds, obviously

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  14. pezasied's got it I think.. nothing else makes sense.

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  15. I would never have gotten that.
    +followed

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  16. Haha I had to read the comments to get it.

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  17. Too many numbers, IMO. Hurts my head... hehe

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  18. Im gonna guess since £1 and a toad, sounds like "£1 and eight owed" that the toad costs £9?

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  19. hmmmm im gonna have to say about $12.50 give or take due to the rate changing all the time, follwed u back so i can follow u back lol

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  20. Never heard of it! Thanks!

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  21. seeing it the first time too

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  22. Ok...I don't get the "sounds like" thing :'( Don't like riddles based on language in a foreign language.

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  23. great I like that post more , I wanna more :D Supporing ya

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  24. Really digging these riddles. It's nice to flex the ol' brain when you can.

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  25. lol i wouldn' of had a clue with out the answer above

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