SOLUTION: 2. An envelope contains 26 money bills in $500 and $1,000 denominations. The amount of $500 bills is 30% of the total amount of money in the envelope. How many bills of each denomi

Question 1097373: 2. An envelope contains 26 money bills in $500 and $1,000 denominations. The amount of $500 bills is 30% of the total amount of money in the envelope. How many bills of each denomination are in the envelope?
Answer by ikleyn(52794) (Show Source): You can put this solution on YOUR website!
.

Let "x" be the number of $500 bills.

Then the number of the $1000 bills is (26-x).


The condition says

500x = 0.3*(500x + 1000*(26-x)).


Simplify and solve for x:

500x = 150x + 7800 - 300x,

500x - 150x + 300x = 7800,

650x = 7800  ====>  x =  = 12.


Answer.  12 $500 bills and (26-12) = 14 $1000 bills.

RELATED QUESTIONS
Nicole has $100 and $500. The number of $500 bills is 15 more than the number of $100... (answered by ewatrrr)

A person opens his wallet and finds that all the bills are $1 bills, $5... (answered by josgarithmetic,greenestamps)

Suppose your wallet contains 10 bills of the following denominations: five $5 bills, two... (answered by richwmiller)

A woman has $245 total in denominations of 5,29,20 bills. She has the Sam number of bills (answered by stanbon,ikleyn)

A person opens his wallet and finds that all the bills are $1 bills, $5... (answered by stanbon)

An office keeps a cashbox with $5 and $10 bills for small purchases. The cashbox has 25... (answered by ikleyn)

A cash register contains only five dollar and fifty dollar bills. It contains five times... (answered by richwmiller)

A cash register contains only five dollar and fifty dollar bills. It contains four times... (answered by Alan3354,ewatrrr)

A cash register contains only five dollar and fifty dollar bills. It contains five times... (answered by josgarithmetic,ikleyn)