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Horse Trading Mathematics

A man wishing to purchase a horse, refused to give 24 dols. The price asked; but to make a little display of his knowledge of fractions, said he would give 8/6 of 24 dols.; on hearing which the seller immediately told him ‘twas a bargain; now which knew the most about fractions, the buyer or the seller, and how much does the purchase price differ from what was asked?

Solution:

Source: R.C. Smith’s Practical and Mental Arithmetic on a New Plan, 1827.