Ian, Dan and Rey had the same number of notes. Ian and Dan had a mix of $20-notes and $5-notes. Dan had 7 $20-notes while Ian had 15 $20-notes. Rey only had $20-notes.

1. Who had the least amount of money?
2. How much less did Dan have than Ian?
3. Ian used all his $5-notes to buy a wallet. He then had $680 less than Rey. How many $20-notes did Rey have?

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

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

(b)
Number of less $20-notes that Dan had than Ian
= 15 - 7
= 8

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

Amount that Dan had less than Ian
= 8 x 15
= $120

(c)
Value of $20-notes that Ian had left
= 15 x 20
= $300

Total value that Rey had
= 300 + 680
= $980

Number of $20-notes that Rey had
= 980 ÷ 20
= 49

Answer(s): (a) Dan; (b) $120; (c) 49