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I just heard this off my brother, am i being stupid or does this really not add up?

''I want to buy a Top for 97 pound. I borrow 50 pound of my mum, and 50 pound off my dad. I know have 100 pound. I buy the top and get 3 pounds change, i then give 1 pound to my mum,1 pound to my dad and keep a pound. I know owe my mum 49 pounds, and owe my dad 49 pounds. 49 + 49= 98 (the total of what i owe my parents)+ the pound i kept =99 pound. Where did the extra pound go?''

I carnt work it out!

The extra pound is in your pocket. You received 98 pounds worth of stuff (97 pound top and 1 pound cash).

edit: The breakdown is as follows:

Borrowed 100
Paid 97
Kept 3
Gave 2 to parents (Still owe 98)
Kept 1, top worth 97

The 100 is a red herring at this point.

This is an old brain teaser, the sum at the end is incorrect. The brain teaser is trying to trick you by making you think that the amount owned to each parent plus the change in your pocket should equal the total amount borrowed. It is however wrong to add these numbers together to reach the grand total borrowed.

It's the two pounds in your parents pockets you actually add to £98 to reach the £100 total, not the £1 in yours. The money in your pocket is already accounted for in the amount that you owe your parents.

It’s red herring that sounds right but it’s bad maths.

*EDIT*

It even has it's own wikipedia entry:

http://en.wikipedia.org/wiki/Missing_dollar_riddle

well no you owe one parent 49 pounds and the other 48. you chose to keep one pound - how do you sleep at night!!!!!!