Jed, Max and Lon had the same number of notes. Jed and Max had a mix of $100-notes and $50-notes. Jed had 9 $100-notes while Max had 12 $100-notes. Lon only had $100-notes.

1. Who had the least amount of money?
2. How much more did Max have than Jed?
3. Max used all his $50-notes to buy a wallet. He then had $1900 less than Lon. How many $100-notes did Lon have?

(a)
The three boys had the same number of notes.
$100-notes have a higher denomination than $50-notes.

Since Jed had the least number of $100-notes, he had the least money.

(b)
Number of more $100-notes that Max had than Jed
= 12 - 9
= 3

Difference in the value of $100-note and $50-note
= 100 - 50
= $50

Amount that Max had more than Jed
= 3 x 50
= $150

(c)
Value of $100-notes that Max had left
= 12 x 100
= $1200

Total value that Lon had
= 1200 + 1900
= $3100

Number of $100-notes that Lon had
= 3100 ÷ 100
= 31

Answer(s): (a) Jed; (b) $150; (c) 31