Accounting Riddle
Accounting Riddle
(OP)
Back in the late 80's, I was given this riddle by an engineer/manager (to test my analytical skills ?), solved it, and have share with many engineers and accountants. No accountant that i gave this riddle to has solved it, but the engineers solved it.
An individual takes a check to the bank to cash. Unbeknownst to the individual, the teller inadvertently exchanges the dollars for cents and the cents for dollars and gives the money to the individual. For example, a $59.35 check is cashed for $35.59.
The individual does not observe/correct the mistake and spends $24.11 in a nearby store. The remaining amount from the cashed check, less $24.11, is twice the original amount of the check.
What is the original check amount/value?
An individual takes a check to the bank to cash. Unbeknownst to the individual, the teller inadvertently exchanges the dollars for cents and the cents for dollars and gives the money to the individual. For example, a $59.35 check is cashed for $35.59.
The individual does not observe/correct the mistake and spends $24.11 in a nearby store. The remaining amount from the cashed check, less $24.11, is twice the original amount of the check.
What is the original check amount/value?





RE: Accounting Riddle
----------------------------------------
The Help for this program was created in Windows Help format, which depends on a feature that isn't included in this version of Windows.
RE: Accounting Riddle
X = dollar amount of original check.
Y = cents amount of original check.
value of original check = X + Y/100
value that was cashed = Y + X/100
Though I need to know the answer to dgallup's question to take it any further.
RE: Accounting Riddle
For my honor, I must state that i started solved it before previous post :)
RE: Accounting Riddle
It's part of the solution. With these two variable and a single equation you get infinite solution.
The second criteria is that Cent and Dolar value need to be integer; that 0<cent<99 and dollar>0
For that, you need to use trial and error (Excel) to find both values
RE: Accounting Riddle
RE: Accounting Riddle
cashed check amount - 24.11 = 2 x original check amount.
JoshPlum is headed in correct direction.
PicoStruc response is correct.
Of all the engineers i gave this riddle to, the quickest response was about 20-minutes by a young engineer working for Bentley Nevada in Minden, NV. i used excel to solve in same time frame.
RE: Accounting Riddle
This wording implied subtracting the $24.11 twice. Once for the "remaining", and once for the "less".
RE: Accounting Riddle
Good luck,
Latexman
To a ChE, the glass is always full - 1/2 air and 1/2 water.
RE: Accounting Riddle