Kit, Tom and Abe had the same number of notes. Kit and Tom had a mix of $20-notes and $10-notes. Tom had 4 $20-notes while Kit had 12 $20-notes. Abe only had $20-notes.

1. Who had the least amount of money?
2. How much less did Tom have than Kit?
3. Kit used all his $10-notes to buy a wallet. He then had $560 less than Abe. How many $20-notes did Abe have?

(a)
The three boys had the same number of notes.
$20-notes have a higher denomination than $10-notes.

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

(b)
Number of less $20-notes that Tom had than Kit
= 12 - 4
= 8

Difference in the value of $20-note and $10-note
= 20 - 10
= $10

Amount that Tom had less than Kit
= 8 x 10
= $80

(c)
Value of $20-notes that Kit had left
= 12 x 20
= $240

Total value that Abe had
= 240 + 560
= $800

Number of $20-notes that Abe had
= 800 ÷ 20
= 40

Answer(s): (a) Tom; (b) $80; (c) 40