Lon, Max and Kai had the same number of notes. Lon and Max had a mix of $100-notes and $5-notes. Max had 9 $100-notes while Lon had 12 $100-notes. Kai only had $100-notes.

1. Who had the least amount of money?
2. How much less did Max have than Lon?
3. Lon used all his $5-notes to buy a wallet. He then had $2800 less than Kai. How many $100-notes did Kai have?

(a)
The three boys had the same number of notes.
$100-notes have a higher denomination than $5-notes.

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

(b)
Number of less $100-notes that Max had than Lon
= 12 - 9
= 3

Difference in the value of $100-note and $5-note
= 100 - 5
= $95

Amount that Max had less than Lon
= 3 x 95
= $285

(c)
Value of $100-notes that Lon had left
= 12 x 100
= $1200

Total value that Kai had
= 1200 + 2800
= $4000

Number of $100-notes that Kai had
= 4000 ÷ 100
= 40

Answer(s): (a) Max; (b) $285; (c) 40