jamifahad wrote:

Hi, Please help me with this question.

A tourist purchased a total of $1,500 worth of traveler’s checks in $10 and $50 denominations, During the trip the tourist cashed 7 checks and then lost all of the rest. If the number of $10 checks cashed was one more or one less than the number of $50 checks cashed, what is the minimum possible value of the checks that were lost?

(A) $1,430 (B) $1,310 (C) $1,290 (D) $1,270 (E) $1,150

Thank you.

The right forum for problem solving question is:

http://gmatclub.com/forum/gmat-problem-solving-ps-140/. Please post your PS questions there.

Sol:

Let the number of $10 checks cashed be "T"

Let the number of $50 checks cashed be "F"

7 checks cashed;

T+F=7

Now; T can be F+1 OR T can be F-1

Let's check both conditions;

T=F+1

T+F=7

F+1+F=7

2F=6

F=3

T=4

Value cashed = 3*50+4*10=150+40=$190

Let's check the other condition as well;

T=F-1

T+F=7

F-1+F=7

2F=8

F=4

T=3

Value cashed = 4*50+3*10=200+30=$230

The more money he cashes, the less loss he incurs. Thus, we must consider the latter case.

Value cashed = $230

Value lost = 1500-230 = $1270

Ans: "D"

_________________

~fluke

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