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an errand boy went to deposit some bills for his employer. some were one-dollar bills and the rest were five-dollar bills. the total value of the bills was $86 and the number of bills was 38. Find the number of each kind of bill.
Let x = the number of five-dollar bills
Since the total number of bills is 38, the number of one-dollar bills will be 38-x
Then we can write the following equation for the total $ amount:
1*(38-x) + 5x = 86
Solve for x:
38 - x + 5x = 86
4x = 48
x = 12
Therefore, the number of 5-dollar bills is 12
And the number of 1-dollar bills is 38-12 = 26