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# An overseas business purchased a total of \$2,000 worth of traveler’s c

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Math Expert
Joined: 02 Sep 2009
Posts: 55231
An overseas business purchased a total of \$2,000 worth of traveler’s c  [#permalink]

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27 Sep 2018, 05:33
00:00

Difficulty:

55% (hard)

Question Stats:

40% (02:26) correct 60% (03:19) wrong based on 11 sessions

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An overseas business purchased a total of \$2,000 worth of traveler’s checks in \$20 and \$50 denominations. During the trip, he cashed only ten checks and lost all the remaining checks. If the number of \$20 checks cashed was two more or two less than the number of \$50 checks cashed, what is the minimum possible value of the checks that were lost?

(A) \$1200
(B) \$1440
(C) \$1500
(D) \$1620
(E) \$1880

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Joined: 19 Oct 2013
Posts: 511
Location: Kuwait
GPA: 3.2
WE: Engineering (Real Estate)
Re: An overseas business purchased a total of \$2,000 worth of traveler’s c  [#permalink]

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27 Sep 2018, 07:31
We already given that he cashed out only 10

Let 20\$ be x
Let 50\$ be y

We also know that x = y + 2 or x = y - 2

So we are given x + y = 10

Then x = 4 or 6 and y = 6 or 4

Now try x = 4 and y = 6

20*4 = 80 and 50 * 6 = 300

Total value cashed = 380

Total value lost = 2,000 - 380 = 1,620

To try the other values for x and y

x = 6 and y = 4
20*6 = 120 and 4*5 = 200

Total value cashed = 320
Total value lost = 2,000 - 320 = 1,680 << not in the answer choices.

And even if it was in the answer choices we are asked for the minimum value lost. In other words we are interested in the maximum value cashed. So we should maximize the 50\$

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Re: An overseas business purchased a total of \$2,000 worth of traveler’s c   [#permalink] 27 Sep 2018, 07:31
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