Example of word problems involving money, Mathematics

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.

Posted Date: 2/9/2013 4:50:47 AM | Location : United States







Related Discussions:- Example of word problems involving money, Assignment Help, Ask Question on Example of word problems involving money, Get Answer, Expert's Help, Example of word problems involving money Discussions

Write discussion on Example of word problems involving money
Your posts are moderated
Related Questions
Suppose a fluid (say, water) occupies a domain D? R^(3 ) and has velocity field V=V(x, t). A substance (say, a day) is suspended into the fluid and will be transported by the fluid

AB,BC,CD ARE THREE CONSECUTIE SIDES OF REGULAR POLYGON.IF ANGLE BAC IS 18 DEGREE, FIND EXTERIOR ANGLES AND NUMBER OF SIDES ?

how to find minimum value of quadratic equation?


The winning team''s score in 21 high school basketball games was recorded. If the sample mean is 54.3 points and the sample standard deviation is 11.0 points, find the 90% confiden

What fraction could you add to 4/7 to get a sum greater than 1

Distributive Property _x7=(3x7)+(2x_)

can i known the all equations under this lesson with explanations n examples. please..

Solve -10 cos(3t )= 7 on [-2,5]. Solution Let's first get the inverse cosine portion of this problem taken care of. cos(3 t )= -  7/10            ⇒     3t = cos -1 ( - 7

Safe deposit boxes are rented at the bank. The dimensions of a box are (22x5x5) in. Determine the volume of the box? a. 220 in 3 b. 550 in 3 c. 490 in 3 d. 360 in 3