Stuck on a simple sum
Discussion
This is embarrassing but my brain can't work it out.
Me and a friend - let's call him Dave - hired a hall to put on a film, and we sold DVDs on the night.
Dave paid for the hall which was £42. So he's £42 down.
I sold the DVDs which made a profit of £56.70, so I'm £56.70 up.
How much do I need to send Dave so we've shared the cost/profit equally?
Me and a friend - let's call him Dave - hired a hall to put on a film, and we sold DVDs on the night.
Dave paid for the hall which was £42. So he's £42 down.
I sold the DVDs which made a profit of £56.70, so I'm £56.70 up.
How much do I need to send Dave so we've shared the cost/profit equally?
Simpo Two said:
This is embarrassing but my brain can't work it out.
Me and a friend - let's call him Dave - hired a hall to put on a film, and we sold DVDs on the night.
Dave paid for the hall which was £42. So he's £42 down.
I sold the DVDs which made a profit of £56.70, so I'm £56.70 up.
How much do I need to send Dave so we've shared the cost/profit equally?
Probably going to be a massive facepalm as i've missed something basic but presumably you need to pay him back the £42 to cover the cost of the hall. Me and a friend - let's call him Dave - hired a hall to put on a film, and we sold DVDs on the night.
Dave paid for the hall which was £42. So he's £42 down.
I sold the DVDs which made a profit of £56.70, so I'm £56.70 up.
How much do I need to send Dave so we've shared the cost/profit equally?
Assuming the DVDs were already owned by both of you and cost nothing you then need to split the remaining money if you had agreed to an equal proft share. So £56.70 - £42 = £14.70 left. Split that in half and you end up with £7.35. You need to pay him £49.35 and you'll have made £7.35.
chrisga said:
Probably going to be a massive facepalm as i've missed something basic but presumably you need to pay him back the £42 to cover the cost of the hall.
We're sharing everything 50:50 so on that aspect I only need to pay him £21, shirley?I paid for the DVDs, packing and postage so those costs are already taken from the sales to give a net profit on that aspect.
Ah hang on let's do it a different way.
I send him £21 for my share of the hall. That's square.
Then I need to send him half the DVD profit. Ah bingo, you were both right!
Edited by Simpo Two on Thursday 23 June 16:13
Simpo Two said:
This is embarrassing but my brain can't work it out.
Me and a friend - let's call him Dave - hired a hall to put on a film, and we sold DVDs on the night.
Dave paid for the hall which was £42. So he's £42 down.
I sold the DVDs which made a profit of £56.70, so I'm £56.70 up.
How much do I need to send Dave so we've shared the cost/profit equally?
share the debt equally £42/2 = £21Me and a friend - let's call him Dave - hired a hall to put on a film, and we sold DVDs on the night.
Dave paid for the hall which was £42. So he's £42 down.
I sold the DVDs which made a profit of £56.70, so I'm £56.70 up.
How much do I need to send Dave so we've shared the cost/profit equally?
share the profit equally £56.70/2 = £28.35
you pay him £21 + £28.35 = £49.35
Dr Jekyll said:
Assuming the £42 is the only expense, then pay him the £42 back then split the £14.70 profit between you. £49.35 for him £7.35 for you.
This, Dave paid the £42 cost upfront so you both split the cost £21 each. The sales on top is split evenly. Dave gets his costs back with £7.35 profit as do you. Wacky Racer said:
Who paid for the cost of producing the DVD's?
Packaging/materials etc.
Me. But the sum I quoted was net profit, so that's all factored in.Packaging/materials etc.
take-good-care-of-the-forest-dewey said:
Yeah but hang on... How much do you owe the "Talent" in film?
ETA plus the hire of the Taxi.
ETA plus the hire of the Taxi.
The talent was free, not least me because I had the starring role! I think the only (real) car in the film was an Aston Martin (not mine).mikef said:
And the costs of burning the gold copy DVD ?
Seriously, the movie is so enjoyable I’d happily cover both your costs
I didn't think it had reached East Sussex! ...but it does have a Facebook page if you do that...Seriously, the movie is so enjoyable I’d happily cover both your costs
Anyway, the good news is that I made £56.70, but Dave lost £42, which makes me Lord Sugar's Apprentice
Edited by Simpo Two on Thursday 23 June 21:13
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