A jar contained $5 and $50 notes with a total value of $1540. 7 pieces of $50 were exchanged for $5 notes of similar value. In the end, the number of $5 notes was the same as the $50 notes. How many $50 notes were there at first?
|
$5 |
$50 |
Before |
1 u - 70 |
1 u + 7 |
Change |
+ 70 |
- 7 |
After |
1 u |
1 u |
Total value of $5 and $50 notes remains unchanged after the exchange of notes of similar value.
Total value of 7 pieces of $50-notes
= 7 x 50
= $350
Number of $5-notes that 7 pieces of $50-notes were exchanged for
= 350 ÷ 5
= 70
In the end |
$5 |
$50 |
Total |
Number |
1 u |
1 u |
2 u |
Value |
5 |
50 |
|
Total Value |
5 u |
50 u |
55 u |
Total value of $5 and $50 notes
= 5 u + 50 u
= 55 u
55 u = 1540
1 u = 1540 ÷ 55 = 28
Number of $50 notes at first
= 1 u + 7
= 28 + 7
= 35
Answer(s): 35