Question
Suppose that a merchant spends a quarter of his capital in Pisa and a fifth in Venice, that he receives on these transactions 180 ducats,
Suppose that a merchant spends a quarter of his capital in Pisa and a fifth in Venice, that he receives on these transactions 180 ducats, and that he holds 224 ducats in the hand (hence, 44 belong to the original capital). What was his original capital?
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Financial Accounting A User Perspective
Authors: Robert E. Hoskin, Maureen R. Fizzell, Donald C. Cherry
4th Canadian Edition
0470834455, 978-0470834459
