Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
I is the Final Interest Value
P is the amount of money borrowed
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above
Let x be the number of $10 bills in Iago pocket.
1. If he has twice as many $1 bills as $10 bills, then he has (2x) $1 bills.
2. He has two fewer $20 bills than he does $10 bills, then he has (x-2) $20 bills.
3. He has three more $5 bills than $10 bills, then he has (x+3) $5 bills.
In total he has $160 that is x·10+2x·1+(x-2)·20+(x+3)·5.
Equate these two expressions and solve the equation:
Thus, he has
