Lon, Jim and Ned had the same number of notes. Lon and Jim had a mix of $50-notes and $5-notes. Lon had 15 $50-notes while Jim had 20 $50-notes. Ned only had $50-notes.
- Who had the least amount of money?
- How much more did Jim have than Lon?
- Jim used all his $5-notes to buy a wallet. He then had $1050 less than Ned. How many $50-notes did Ned have?
(a)
The three boys had the same number of notes.
$50-notes have a higher denomination than $5-notes.
Since Lon had the least number of $50-notes, he had the least money.
(b)
Number of more $50-notes that Jim had than Lon
= 20 - 15
= 5
Difference in the value of $50-note and $5-note
= 50 - 5
= $45
Amount that Jim had more than Lon
= 5 x 45
= $225
(c)
Value of $50-notes that Jim had left
= 20 x 50
= $1000
Total value that Ned had
= 1000 + 1050
= $2050
Number of $50-notes that Ned had
= 2050 ÷ 50
= 41
Answer(s): (a) Lon; (b) $225; (c) 41
