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

Example of adding signed numbers, Example of Adding signed numbers: E...

Example of Adding signed numbers: Example: (2) + (-4) =      Solution: Start with 2 and count 4 whole numbers to the left. Thus: (2) + (-4) = -2 Adding

Give an example of numerator and denominator, Give an example of Numerator ...

Give an example of Numerator and Denominator? Fractions represent parts of a whole object. Fractions are written using a horizontal line, with one number on top of the line and

Testing the difference between two sample means-illustration, An observatio...

An observation was made concerning reading abilities of males and females. The observation leads to a conclusion that females are faster readers than males. The observation was bas

Classify linear or nonlinear, Question: Classify the following differen...

Question: Classify the following differential equations as linear/nonlinear. Also, what is the order of the following differential equations? Xy'-2y =x Xy'' -2y' =xsin(y)

The appropriate resource constraint, Consider a person's decision problem i...

Consider a person's decision problem in trying to decide how many children to have. Although she cares about children and would like to have as many as possible, she knows that chi

Sums and differences of cubes and other odd powers, Sums and Differences of...

Sums and Differences of Cubes (and other odd powers)? You can factor a sum or difference of cubes using the formulas a 3 - b 3 = (a - b )(a 2 + ab + b 2 ) and a 3 + b 3 =

Physics of medical imaging, A radiograph is made of an object with a width ...

A radiograph is made of an object with a width of 3 mm using an x-ray tube with a 2 mm focal spot at a source-to-film distance of 100 cm. The object being imaged is 15 cm from the

Graphs, How do I graph a round robin pool tournment with 6 players using gr...

How do I graph a round robin pool tournment with 6 players using graph theory

Mensuration, How do mensuration relate to the real life issues

How do mensuration relate to the real life issues

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