There were nine runners. in the big race and asked a bookie what were theodds. “
ID: 2938019 • Letter: T
Question
There were nine runners.
in the big race and asked a bookie what were theodds.
“3 to 1 on Sea Biscuit, 4 to 1 on Abercrombie, 7 to1 on Black Gold,
9 to 1 on Greek Hero and 39 to 1 thefield.”
“The field? what is thefield?”
“Any one of the other five horses wins, you get 39to 1 on your
money,” replied the bookie surprised at theignorance of some people.
“You mean you give me 39 times what I giveyou?”
“I give you your bet back plus your winnings, whichare 39 times the
amount of the bet,” said the bookie. “Are youplaying? I don’t have
the whole day!”
The Professor thought for a few momentsand
then placed a bet on each of the nine horses,all
to win.
“You might as well give me my winningsnow,”
said the Professor.
“The race hasn’t been runyet!”
“That doesn’t matter, when it’sfinished, you’ll owe me $200.”
And hewas right. How much did the Professor bet on eachhorse?
Explanation / Answer
For every dollar put in, the return for "investment" is: 4 for Sea Biscuit,5 for Abercrombie,
8 for Black Gold,
10 for Greek Hero,
40 for each field horse -- 5 in all So, to win $200, need to place the following as one horse isguaranteed to win (I'm assuming no ties) $50 for Sea Biscuit, $40 for Abercrombie, $25 for Black Gold $20 for Greek Hero and $5 each for the 5 field horses ------------------- Although it wasn't asked the total invested is 50 + 40 + 25 + 20 + 5*5 = 160 so playing the horses wouldprovide a profit in this not likely situation So, to win $200, need to place the following as one horse isguaranteed to win (I'm assuming no ties) $50 for Sea Biscuit, $40 for Abercrombie, $25 for Black Gold $20 for Greek Hero and $5 each for the 5 field horses ------------------- Although it wasn't asked the total invested is 50 + 40 + 25 + 20 + 5*5 = 160 so playing the horses wouldprovide a profit in this not likely situation
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