Ian, Nat and Jon had the same number of notes. Ian and Nat had a mix of $50-notes and $20-notes. Ian had 8 $50-notes while Nat had 12 $50-notes. Jon only had $50-notes.

1. Who had the least amount of money?
2. How much more did Nat have than Ian?
3. Nat used all his $20-notes to buy a wallet. He then had $1450 less than Jon. How many $50-notes did Jon have?

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

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

(b)
Number of more $50-notes that Nat had than Ian
= 12 - 8
= 4

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

Amount that Nat had more than Ian
= 4 x 30
= $120

(c)
Value of $50-notes that Nat had left
= 12 x 50
= $600

Total value that Jon had
= 600 + 1450
= $2050

Number of $50-notes that Jon had
= 2050 ÷ 50
= 41

Answer(s): (a) Ian; (b) $120; (c) 41