Ian, Ned and Joe had the same number of notes. Ian and Ned had a mix of $50-notes and $20-notes. Ned had 8 $50-notes while Ian had 13 $50-notes. Joe only had $50-notes.

1. Who had the least amount of money?
2. How much less did Ned have than Ian?
3. Ian used all his $20-notes to buy a wallet. He then had $850 less than Joe. How many $50-notes did Joe have?

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

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

(b)
Number of less $50-notes that Ned had than Ian
= 13 - 8
= 5

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

Amount that Ned had less than Ian
= 5 x 30
= $150

(c)
Value of $50-notes that Ian had left
= 13 x 50
= $650

Total value that Joe had
= 650 + 850
= $1500

Number of $50-notes that Joe had
= 1500 ÷ 50
= 30

Answer(s): (a) Ned; (b) $150; (c) 30