Here was the question from yesterday‘s “An Elephant Always Forgets”:
In May 2002, a Euro was worth 89 cents, US. Today, a Euro is worth US$1.35 ($1.3529).
Here’s the Zug Math Challenge:
What percentage drop in the value of the US dollar does that figure represent?
Winners will receive Virtual Prizes worth Millions of Virtual Dollars!
And here is the answer:
It’s a trick question, like most story problems.
$1 (or 100 pennies) = 100 percent.
89 cents to $1.35 (or, 135 minus 89) = 46 cents, or 46 percent.
(100 pennies = 100 percent.)
Which is how much the U.S. Dollar has devalued against the Euro since 2002. Now, where have you read THAT in the funny papers?
Winners were determined in that ‘fair’ manner of the NPR Sunday Edition Puzzle Challenge: the correct answerers’ names (and not the correct answerers) were placed in a hat, and we drew a winner.
- Mr. Bleen Fjornston of Minniver Cheevers, Maine was the winner of our fabulous all-expenses-paid virtual vacation for two to Jupiter and the Jovian moons. In addition, the lucky winner will receive a virtual “Hope Diamond,” and a virtual “Ko-i-noor Diamond” worth millions of virtual dollars.
- Our Second Place winner receives a virtual three-day all-expense-paid vacation for two in fabulous Cleveland, Ohio! Stay right on the Cuyahoga River, and who knows? If it catches fire, you can watch it from the comfort of your hotel balcony! Winner will also receive a virtual pair of Dorothy’s ruby slippers from the 1932 “Wizard of Oz” worth hundreds of thousands of virtual dollars. Congratulations, Mr. E.D. of Russell, Kansas!
- The Third Place winner will receive a week’s virtual all-expense-paid vacation in fabulous Cleveland, Ohio. And the lucky third prize winner will receive the prize from a box of virtual Cracker Jacks™. Congrats, Ms. L.Z.W. of Weehauken, Illinois.
And a last bit of advice for ALL of our fabulous Zug Math Challenge winners: spend your dollars on as much touristy stuff as you can carry. After all, who knows what your bucks will actually be worth when you get back.
As it stands, unless you’re making approximately 150% of what you were making in 2002, you have lost ground. Your work buys fewer goods and services. Unfortunately, since that time, gasoline prices have risen more than 200%, so even if you’ve stayed even, you’ve lost ground.
2007 Hart Williams. Cross-posted from Zug - Hart Williams' Blog NOTE: Today is precisely the 400th Anniversary of the English colonization of Jamestown: 14 May, 1607. (Unremarked is the fact that the Spanish had been in the “New World” for nearly a century, already. St. Augustine, Florida, founded 1565; Santa Fe, New Mexico, founded 1607-8, formally ‘founded’ in 1610.)
The continuation of Skiing Uphill and Boregasm, Zug is 'the little blog that could.'