Problem of the Day
A new programming or logic puzzle every Mon-Fri

Loan Riddle

A fun riddle to close out our week. I'm curious to see everyone's answers.

A woman drives to her bank in downtown San Francisco and asks for a $1,000 loan for an upcoming, 2 month long trip she has planned to Asia. The loan officer tells her she will need collateral if she wants the loan.

She tells the loan officer "I'll leave my Ferrari, it's worth $150,000." The bank takes the car for the loan, laughing at her for leaving such expensive collateral.

Two months later when the woman comes back she pays off her loan plus interest, costing her a grand total of $1,015. The bank manager smirks at her and asks "While you were gone we found out you're very wealthy. Why would you get such a small loan and leave such expensive collateral?"

She tells him why and he realizes she's not as dumb as they thought. Why did she get the loan?

Permalink: http://problemotd.com/problem/loan-riddle/

Comments:

  • Anonymous - 10 years, 7 months ago

    She practically paid $15 for 2 months protection on her ferrari.

    reply permalink

  • Dima - 10 years, 7 months ago

    Where else she would find such secure parking for such silly price of 7.5USD

    reply permalink

  • Manas - 10 years, 7 months ago

    Where else could she find a secure parking space for 15.0USD for TWO MONTHS?!?!?

    reply permalink

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