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

Areas of a rectangle, a rectangular field with a path around it measures 1...

a rectangular field with a path around it measures 120m by 50m.if the path is 1m wide all around,(a)find the length of the outer edge of the path.(b)find the area of the path

Quantitative method, Year 1 2 3 4 ...

Year 1 2 3 4 5 6 7 8 9 10 Corn revenue 40 44 46

How to calculate probability of event, Q. How to calculate Probability of e...

Q. How to calculate Probability of event? Ans. What chance do I have to toss the coin and get a head? You might think 50-50, 50%. What about tossing it 5 times and getting

Differential equations, Find the normalized differential equation which has...

Find the normalized differential equation which has {x, xex} as its fundamental set

Trigonometry 2, three towns are situated in such away that town B is 120 ki...

three towns are situated in such away that town B is 120 kilometers on a bearing of 030 degrees from town A. Town C is 210 kilometers on a bearing of 110 degrees from town A (a)ca

Calculus, I need help with my calculus

I need help with my calculus

What is probability that a person selected at random eyes, If 65% of the po...

If 65% of the populations have black eyes, 25% have brown eyes and the remaining have blue eyes. What is the probability that a person selected at random has (i) Blue eyes (ii) Bro

Bob is 2 years from being double as old as ellen, Bob is 2 years from being...

Bob is 2 years from being double as old as Ellen. The sum of twice Bob's age and three times Ellen's age is 66. How old is Ellen? Let x = Ellen's age and let y = Bob's age. Sin

Rejection and acceptance regions, Rejection and Acceptance regions All ...

Rejection and Acceptance regions All possible values which a test statistic may either suppose consistency along with the null hypothesis as acceptance region or lead to the re

Profit and loss, a man buy car at rs.50 and sells it at gain of 14% find ...

a man buy car at rs.50 and sells it at gain of 14% find the sp

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