Results 1 to 8 of 8
Like Tree1Thanks
  • 1 Post By romsek

Thread: Traveler's Checks

  1. #1
    Super Member harpazo's Avatar
    Joined
    Sep 2014
    From
    NYC
    Posts
    995
    Thanks
    42

    Traveler's Checks

    A tourist purchased a total of 1500 dollars worth of traveler's checks in 10 dollars and 50 dollars denominations. During the trip the tourist cashed 7 checks and then lost all of the rest. If the number of 10 dollar checks cashed was one more or one less than the number of 50 dollar checks, what is the minimum possible value of the checks that were lost?

    1500 - 70 = 1430
    1430 - 50 = 1380
    1380 - 70 = 1310

    My answer is 1310 dollars.

    The book's answer is 1270 dollars.

    I got lost in the application in terms of the word OR in the following statement:

    If the number of 10 dollar checks cashed was one more or one less than the number of 50 dollar checks, what is the minimum possible value of the checks that were lost?

    Why is my answer wrong? Can someone set up an equation for me to solve?
    Follow Math Help Forum on Facebook and Google+

  2. #2
    MHF Contributor
    Joined
    Nov 2013
    From
    California
    Posts
    6,501
    Thanks
    2846

    Re: Traveler's Checks

    let $n$ be the number of \$10 checks cashed

    Either

    $n+(n+1) = 7 \Rightarrow n = 3$

    or

    $n + (n-1) = 7 \Rightarrow n = 4$

    The amount lost will be

    $1500 - 3(10) - 4(50) = 1500 - 230 = 1270$

    or

    $1500 - 4(10) - 3(50) = 1500 - 190 = 1310$

    $1270 < 1310$ and is thus the minimum possible value of the amount lost.
    Thanks from harpazo
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Super Member harpazo's Avatar
    Joined
    Sep 2014
    From
    NYC
    Posts
    995
    Thanks
    42

    Re: Traveler's Checks

    Quote Originally Posted by romsek View Post
    let $n$ be the number of \$10 checks cashed

    Either

    $n+(n+1) = 7 \Rightarrow n = 3$

    or

    $n + (n-1) = 7 \Rightarrow n = 4$

    The amount lost will be

    $1500 - 3(10) - 4(50) = 1500 - 230 = 1270$

    or

    $1500 - 4(10) - 3(50) = 1500 - 190 = 1310$

    $1270 < 1310$ and is thus the minimum possible value of the amount lost.
    You lost me in terms of the two equations you posted after the word EITHER with respect to n.
    Follow Math Help Forum on Facebook and Google+

  4. #4
    MHF Contributor
    Joined
    Nov 2013
    From
    California
    Posts
    6,501
    Thanks
    2846

    Re: Traveler's Checks

    Quote Originally Posted by harpazo View Post
    You lost me in terms of the two equations you posted after the word EITHER with respect to n.
    you are told that the number of \$10 checks cashed was either one more or one less than the number of \$50 checks cashed.

    you don't know which so you have to investigate both possibilities.
    Follow Math Help Forum on Facebook and Google+

  5. #5
    Super Member harpazo's Avatar
    Joined
    Sep 2014
    From
    NYC
    Posts
    995
    Thanks
    42

    Re: Traveler's Checks

    Quote Originally Posted by romsek View Post
    you are told that the number of \$10 checks cashed was either one more or one less than the number of \$50 checks cashed.

    you don't know which so you have to investigate both possibilities.
    Why did you equate both equations to 7?
    Follow Math Help Forum on Facebook and Google+

  6. #6
    MHF Contributor
    Joined
    Nov 2013
    From
    California
    Posts
    6,501
    Thanks
    2846

    Re: Traveler's Checks

    Quote Originally Posted by harpazo View Post
    Why did you equate both equations to 7?
    Do you even read the problems you post before posting them?

    The problem very clearly states that the tourist cashed 7 of the checks and lost the rest.
    Follow Math Help Forum on Facebook and Google+

  7. #7
    MHF Contributor
    Joined
    Feb 2015
    From
    Ottawa Ontario
    Posts
    2,233
    Thanks
    491

    Re: Traveler's Checks

    Now, now, Romsek, do you not know that Harpazoo works long shifts, and is tired...
    Follow Math Help Forum on Facebook and Google+

  8. #8
    Super Member harpazo's Avatar
    Joined
    Sep 2014
    From
    NYC
    Posts
    995
    Thanks
    42

    Re: Traveler's Checks

    Quote Originally Posted by romsek View Post
    Do you even read the problems you post before posting them?

    The problem very clearly states that the tourist cashed 7 of the checks and lost the rest.
    Yes, I read every question several times before posting. In fact, I only post questions AFTER trying to solve on my own.
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Someone checks for me please :D.
    Posted in the Business Math Forum
    Replies: 3
    Last Post: May 13th 2015, 07:07 AM
  2. Someone checks for me please :D.
    Posted in the Calculus Forum
    Replies: 2
    Last Post: May 13th 2015, 02:20 AM
  3. Integration qs and checks
    Posted in the Calculus Forum
    Replies: 5
    Last Post: Jun 16th 2008, 11:03 PM
  4. A few matrix checks
    Posted in the Advanced Algebra Forum
    Replies: 3
    Last Post: Jun 10th 2008, 10:51 PM
  5. Answer Checks!!
    Posted in the Algebra Forum
    Replies: 5
    Last Post: Feb 13th 2008, 05:59 AM

/mathhelpforum @mathhelpforum