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

Find the perameter of square in maths, Find the perameter of SQUARE in math...

Find the perameter of SQUARE in maths? Remember that in a square, all sides are of equal length. A square is also a kind of rectangle. So, you can use length (l) times width

Definition of laplace transforms, You know that it's all the time a little ...

You know that it's all the time a little scary while we devote an entire section just to the definition of something. Laplace transforms or just transforms can appear scary while w

Calculate the probability, Let D = 1 denotes the event that an adult male h...

Let D = 1 denotes the event that an adult male has a particular disease. In the population, it is known that the probability of having this disease is 20 percent, i.e., Pr (D = 1)

Evaluate the slope of the line, Evaluate the slope of the line: Examp...

Evaluate the slope of the line: Example: What is the slope of the line passing through the points (20, 85) and (30, 125)? Solution:            m = 125 -85/30-20 = 4

Example of optimization , A piece of pipe is carried down a hallway i.e 10 ...

A piece of pipe is carried down a hallway i.e 10 feet wide.  At the ending of the hallway the there is a right-angled turn & the hallway narrows down to 8 feet wide. What is the lo

Index shift - sequences and series, Index Shift - Sequences and Series ...

Index Shift - Sequences and Series The main idea behind index shifts is to start a series at a dissimilar value for whatever the reason (and yes, there are legitimate reasons

matlab, how to solve simplex method using matlab

how to solve simplex method using matlab?

Evaluate the area and perimeter of a square, Evaluate the area and perimete...

Evaluate the area and perimeter of a square: Example: Calculate the area and perimeter of a square with a = 5´.  Be sure to include units in your answer. Solution:

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