MathDB
Making bets

Source: AHSME 1963 Problem 36

January 13, 2014
LaTeXAMC

Problem Statement

A person starting with 6464 cents and making 66 bets, wins three times and loses three times, the wins and losses occurring in random order. The chance for a win is equal to the chance for a loss. If each wager is for half the money remaining at the time of the bet, then the final result is:
<spanclass=latexbold>(A)</span> a loss of 27<spanclass=latexbold>(B)</span> a gain of 27<spanclass=latexbold>(C)</span> a loss of 37<span class='latex-bold'>(A)</span>\ \text{a loss of } 27 \qquad <span class='latex-bold'>(B)</span>\ \text{a gain of }27 \qquad <span class='latex-bold'>(C)</span>\ \text{a loss of }37 \qquad
<spanclass=latexbold>(D)</span> neither a gain nor a loss<spanclass=latexbold>(E)</span> a gain or a loss depending upon the order in which the wins and losses occur <span class='latex-bold'>(D)</span>\ \text{neither a gain nor a loss} \qquad <span class='latex-bold'>(E)</span>\ \text{a gain or a loss depending upon the order in which the wins and losses occur}
Note: Due to the lack of LaTeX\LaTeX packages, the numbers in the answer choices are in cents ¢