A jar contained $50 and $10 notes with a total value of $1020. 10 pieces of $10 were exchanged for $50 notes of similar value. In the end, the number of $50 notes was the same as the $10 notes. How many $50 notes were there at first?
| |
$50 |
$10 |
| Before |
1 u - 2 |
1 u + 10 |
| Change |
+ 2 |
- 10 |
| After |
1 u |
1 u |
Total value of $50 and $10 notes remains unchanged after the exchange of notes of similar value.
Total value of 10 pieces of $10-notes
= 10 x 10
= $100
Number of $50-notes that 10 pieces of $10-notes were exchanged for
= 100 ÷ 50
= 2
| In the end |
$50 |
$10 |
Total |
| Number |
1 u |
1 u |
2 u |
| Value |
50 |
10 |
|
| Total Value |
50 u |
10 u |
60 u |
Total value of $50 and $10 notes
= 50 u + 10 u
= 60 u
60 u = 1020
1 u = 1020 ÷ 60 = 17
Number of $50 notes at first
= 1 u - 2
= 17 - 2
= 15
Answer(s): 15
