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

Probability of tossing a head with the dime, Q. Find Probability of tossing...

Q. Find Probability of tossing a head with the dime? List the sample space, and find n(S), for the outcomes of tossing a nickel followed by a dime. What is the probability of t

Parametric equations and curves - polar coordinates, Parametric Equations a...

Parametric Equations and Curves Till to this point we have looked almost completely at functions in the form y = f (x) or x = h (y) and approximately all of the formulas that w

Algebra, let setM={X,2X,4X} for any numberX .if average (arthemetic mean)of...

let setM={X,2X,4X} for any numberX .if average (arthemetic mean)of the number in setM is 14.what is the value of X?

Compute the essential matrix and epipolar lines , 1. In Figure there are th...

1. In Figure there are three cameras where the distance between the cameras is B, and all three cameras have the same focal length f. The disparity dL = x0 - xL, while the disparit

Explain the rules of divisibility, Explain the rules of Divisibility ? ...

Explain the rules of Divisibility ? Divisible by 2: If the last digit is a 0, 2, 4, 6, or 8, the number is evenly divisible by 2. Divisible by 2 Not

Solution set of equation, The complete set of all solutions is called as th...

The complete set of all solutions is called as the solution set for the equation or inequality.  There is also some formal notation for solution sets.  We have to still acknowledge

Matrix, parts of matrix and functions

parts of matrix and functions

Arithmetic progression (a.p.), A series is said to be in Arithmetic...

A series is said to be in Arithmetic Progression (A.P.) if the consecutive numbers in the series differs by a constant value. This constant value is referre

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