Question

If somebody offered to give me £20 if I give them £10, have I actually made a profit?

From my point of view, no as you're giving them £10 for £20 which basically gives the £20 a value of £10 which in no profit. However, I may just not be thinking about it right and if it is incorrect inform me.

I am only asking this as my family says you have gained £10.​

Answer 1

Yes, you have made a profit.

Explanation:

Basically, profit just means that you end up having more money than you started with.

Since you started with 10 and got a 20 in exchange for it, you now have 10 dollars more than you previously did, meaning you made a profit.