Jim, Ian and Ned had the same number of notes. Jim and Ian had a mix of $20-notes and $5-notes. Jim had 13 $20-notes while Ian had 18 $20-notes. Ned only had $20-notes.

1. Who had the least amount of money?
2. How much more did Ian have than Jim?
3. Ian used all his $5-notes to buy a wallet. He then had $240 less than Ned. How many $20-notes did Ned have?

(a)
The three boys had the same number of notes.
$20-notes have a higher denomination than $5-notes.

Since Jim had the least number of $20-notes, he had the least money.

(b)
Number of more $20-notes that Ian had than Jim
= 18 - 13
= 5

Difference in the value of $20-note and $5-note
= 20 - 5
= $15

Amount that Ian had more than Jim
= 5 x 15
= $75

(c)
Value of $20-notes that Ian had left
= 18 x 20
= $360

Total value that Ned had
= 360 + 240
= $600

Number of $20-notes that Ned had
= 600 ÷ 20
= 30

Answer(s): (a) Jim; (b) $75; (c) 30