In a certain branch, notes are collected before they are sent to the central bank. Given that the total number of notes collected is 5000, there are only $5 and $2 notes and the $2 notes make up 60% of the total number of notes collected, what is the difference in value between the two denominations?
Question
In a certain branch, notes are collected before they are sent to the central bank. Given that the total number of notes collected is 5000, there are only 2 notes and the $2 notes make up 60% of the total number of notes collected, what is the difference in value between the two denominations?
Solution
Step 1: Determine the number of 5 notes.
Given that the 2 notes as follows:
60/100 * 5000 = 3000 $2 notes
Since the total number of notes is 5000, the number of $5 notes is:
5000 - 3000 = 2000 $5 notes
Step 2: Calculate the total value of each denomination.
The total value of the $2 notes is:
3000 * 6000
The total value of the $5 notes is:
2000 * 10000
Step 3: Find the difference in value between the two denominations.
The difference in value between the 2 notes is:
6000 = $4000
So, the difference in value between the two denominations is $4000.
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