Why Rs. 100 is not same as Rs. 100 ?
One more post, one more thought on how our mind works.
Here’s my plan – I want to write interesting thoughts/ideas on how we make decision and how we can improve it. The purpose of all such posts where I give an example or a situation about buying or selling, is to become well informed. Improve decision making – for myself and everyone who reads it.
Today’s post, once again has a situation. I will prove that Rs. 100 is not equal to Rs.100, lets begin
I have a friend who wanted to buy papers for his printer. He does this perhaps once a year. Most of the shops sell this paper for 400 Rupees, but he knows one shop who sells same paper for 300 rupees. He walks 10 minutes extra to reach this shop and buy paper. That sounds like a good idea – 10 minutes extra walk but you save 100 rupees. I would do same. 100 rupees discount on a 400 rupees item sounds very exciting.
However here comes a twist in the story. This same friend, recently, was shopping for a cell phone. Price was 9000 rupees. Someone told him that if he would walk 5 minutes further, another reputed store was giving 100 rupees discount on same phone. “Come on! I am buying a Cell phone. And MRP of this phone is Rs. 9000 for sure. It doesn’t matter, I don’t want to walk to a different store to save 100 rupees. I think I will just buy it. Here’s my 9000 rupees”
He proved for himself that 100 rupees was not equal to 100 rupees. There have been times when I have proved same to myself. Have you also proved same? If you don’t understand what happened here that’s alright! You can even understand this after a year, there is no rush.
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