Easy money
Siddharth throws a dice. He is promised an amount twice the value of the number of the number showing up if the number showing up is odd and an amount thrice the value of the number showing up if the number showing up is even.What is the maximum amount in Rs.(indian currency) Siddharth is willing to pay each time to throw the dice if in the long run he wants to make an average profit of Rs. 6 per throw.
The answer is 3.
This section requires Javascript.
You are seeing this because something didn't load right. We suggest you, (a) try
refreshing the page, (b) enabling javascript if it is disabled on your browser and,
finally, (c)
loading the
non-javascript version of this page
. We're sorry about the hassle.
1 solution
We know that probability of each face is (1÷6)
Expected/ average amount= 2×(1÷6) + 6×(1÷6) + 6×(1÷6) + 12×(1÷6) + 10×(1÷6) + 18×(1÷6)=9 Rs. Per throw.
He wants to make profit of Rs. 6 per throw. So that means he is willing to pay Rs. 3/ throw.