Ray, Kai and Gus had the same number of notes. Ray and Kai had a mix of $100-notes and $20-notes. Kai had 8 $100-notes while Ray had 18 $100-notes. Gus only had $100-notes.

1. Who had the least amount of money?
2. How much less did Kai have than Ray?
3. Ray used all his $20-notes to buy a wallet. He then had $2000 less than Gus. How many $100-notes did Gus have?

(a)
The three boys had the same number of notes.
$100-notes have a higher denomination than $20-notes.

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

(b)
Number of less $100-notes that Kai had than Ray
= 18 - 8
= 10

Difference in the value of $100-note and $20-note
= 100 - 20
= $80

Amount that Kai had less than Ray
= 10 x 80
= $800

(c)
Value of $100-notes that Ray had left
= 18 x 100
= $1800

Total value that Gus had
= 1800 + 2000
= $3800

Number of $100-notes that Gus had
= 3800 ÷ 100
= 38

Answer(s): (a) Kai; (b) $800; (c) 38