Jim, Luc and Sam had the same number of notes. Jim and Luc had a mix of $50-notes and $20-notes. Luc had 5 $50-notes while Jim had 10 $50-notes. Sam only had $50-notes.

1. Who had the least amount of money?
2. How much less did Luc have than Jim?
3. Jim used all his $20-notes to buy a wallet. He then had $1550 less than Sam. How many $50-notes did Sam have?

(a)
The three boys had the same number of notes.
$50-notes have a higher denomination than $20-notes.

Since Luc had the least number of $50-notes, he had the least money.

(b)
Number of less $50-notes that Luc had than Jim
= 10 - 5
= 5

Difference in the value of $50-note and $20-note
= 50 - 20
= $30

Amount that Luc had less than Jim
= 5 x 30
= $150

(c)
Value of $50-notes that Jim had left
= 10 x 50
= $500

Total value that Sam had
= 500 + 1550
= $2050

Number of $50-notes that Sam had
= 2050 ÷ 50
= 41

Answer(s): (a) Luc; (b) $150; (c) 41