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Gold For Sale
Many 'Situation Puzzles' are not designed to be answered by themselves. The idea is for one person to know the answer and other people in a group to try and guess it using yes or no questions. The first person to get the answer is the winner.
Last month when the price of gold was pushing $1000 an ounce, my nephew Ernie dropped in with a proposition. He said an acquaintance was in a bit of a bind and needed some fast cash. "My friend has ten ounces of 24k pure white gold he needs to sell quickly!" said Ernie. "He'll let it go for $8000! If you can lend me $3000 to go with the $5000 I already have, I'll split the profits with you."
Why did I tell my nephew, "Forget about it!"?
Answer:
There is no such thing as "24k pure white gold!" Pure gold is a luscious yellow color and it requires the addition of at least 25% of a white metal alloy (usually nickel) to produce white gold. This reduces the value of the final product. Ernie's "friend" probably bought his white gold at a much lower gold price and saw an opportunity in the rising market.
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