Example of word problems involving money, Mathematics

Assignment Help:

Example of Word Problems Involving Money:

A collection of coins consists of nickels, dimes & quarters. The number of quarters is double the number of nickels, and the number of dimes is five more than the number of nickels.  If the total amount of money is $5.05, how many of each kind of coin are in the collection?

Solution:

Step 1. Let x = Number of Nickels

Step 2. Then,

2x = Number of Quarters

x + 5 = Number of Dimes

Step 3. Total Value = (Number of Nickels)(Value of a Nickel) + (Number of Dimes)(Value of a Dime) + (Number of Quarters)(Value of a Quarter)

$5.05 = (x)($0.05) + (x + 5)($0.10) + (2x)($0.25)

 Step 4. Solving for x:

$5.05 = (x)($0.05) + (x + 5)($0.10) + (2x)($0.25)

$5.05 = $0.05x + $0.10x + $0.50 + $0.50x

$5.05 = $0.65x + $0.50

$0.65x = $5.05 - $0.50

$0.65x = $4.55

x = $ 4.55/$0.65

x = 7

Solving for the other unknowns:

2x = 2(7)

2x = 14

x + 5 = 7 + 5

x + 5 = 12

Answers:       

Number of Nickels      = 7

Number of Dimes       = 12

Number of Quarters    = 14

Step 5. The number of quarters is twice the number of nickels.

2(7) = 14

The number of dimes is five more than the number of nickels.

7 + 5 = 12

The total value is $5.05.

7($0.05) + 12($0.10) + 14($0.25) =

$0.35 + $1.20 + $3.50 = $5.05

Thus, the answers check.


Related Discussions:- Example of word problems involving money

Karatsubas algorithm, Consider the following two polynomials in F 17 [x] ...

Consider the following two polynomials in F 17 [x]   (a) Use Karatsuba's algorithm, by hand, to multiply these two polynomials. (b) Use the FFT algorithm, by hand, to

Triangles, about scalene,equilateral and isosceles.

about scalene,equilateral and isosceles.

Expressing the interest rate as a decimal fraction, Total Contribution per ...

Total Contribution per Year for next 10yeras =$1000+$800 =$1800 So Total Future fund Vaule  =$1800*(1+1.073+power(1.073,2)+ power(1.073,2)+ power(1.073,3)+ power(1.073,4)+ power

Trigonometry, I am really stuck on this topic and other topics its extremel...

I am really stuck on this topic and other topics its extremely difficult and I dont know what to do Im stressing out help me please.

Coordinate geometry, find the points on y axis whose distances from the poi...

find the points on y axis whose distances from the points A(6,7) and B(4,-3) are in the ratio 1:2

Break even point, what is break even point and how can it helps managers to...

what is break even point and how can it helps managers to make decisions?

Using euclid''s algorithm find the value of x & y, If d is the HCF of 30, 7...

If d is the HCF of 30, 72, find the value of x & y satisfying d = 30x + 72y. (Ans:5, -2 (Not unique) Ans:    Using Euclid's algorithm, the HCF (30, 72) 72 = 30 × 2 + 12

Euler method for ode, y'' + 2y = 2 - e-4t, y(0) = 1 use euler''s method wit...

y'' + 2y = 2 - e-4t, y(0) = 1 use euler''s method with a step size of 0.2 to find and approximate values of y

Developing an understanidng of multiplication, DEVELOPING AN UNDERSTANIDNG ...

DEVELOPING AN UNDERSTANIDNG OF MULTIPLICATION :  The most important aspect of knowing multiplication is to understand what it means and where it is applied. It needs to be first i

Number sentences, when i couulate the formula f 64 divided by 65 how do i d...

when i couulate the formula f 64 divided by 65 how do i do this

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd