Loan of $2,500 at 12% simple intrest for 3 years
2 answers:
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Answer: There are 97 nickels and 108 quarters.
Step-by-step explanation:
Let x = Number of nickels, y = Number of quarters.
As per given,
x+y = 205 ...(i)
0.05x+0.25y = 31.85 ... (ii) [1 nickel = $0.05, 1 quarter = $ 0.25]
Multiply (ii) by 20, we get
x+5y=637 ...(iii)
Eliminate (i) from (iii)
4y = 432
⇒ y = 108 [Divide both sides by 4]
Put value of y in (i), we get
Hence, there are 97 nickels and 108 quarters.