Last visit was: 27 Apr 2026, 15:06 It is currently 27 Apr 2026, 15:06
Home
Messages
Tests
Schools
Events
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
Back to Forum
Create Topic
User avatar
Bunuel
User avatar
Math Expert
Joined: 02 Sep 2009
Last visit: 27 Apr 2026
Posts: 109,929
Own Kudos:
811,609
 [6]
Given Kudos: 105,914
Products:
GMAT Club Tests Forum Quiz
Expert
Expert reply
Active GMAT Club Expert! Tag them with @ followed by their username for a faster response.
Posts: 109,929
Kudos: 811,609
 [6]
Michael cashed a check for $1,200 and received only $10 and $50 bills 13 Jan 2024, 03:30
Kudos
Add Kudos
6
Bookmarks
Bookmark this Post
00:00
Start Timer
Pause Timer
Resume Timer
Show Answer
Hide
Show
History
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!

Difficulty:

45% (medium)

Question Stats:

76% (02:38) correct 24% (02:34) wrong based on 295 sessions

History

Date
Time
Result
Not Attempted Yet
Michael cashed a check for $1,200 and received only $10 and $50 bills in return. During the course of a day, he used 15 bills and then lost the rest of the money. If the number of $10 bills used was either one more or one less than the number of $50 bills used, what is the minimum possible amount of money that was lost?

(A) $830
(B) $800
(C) $770
(D) $730
(E) $700
ShowHide Answer
Official Answer
D
User avatar
VivekSri
User avatar
Joined: 01 May 2022
Last visit: 05 Feb 2026
Posts: 468
Own Kudos:
773
 [1]
Given Kudos: 117
Location: India
WE:Engineering (Consulting)
Posts: 468
Kudos: 773
 [1]
Michael cashed a check for $1,200 and received only $10 and $50 bills 13 Jan 2024, 05:30
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Bunuel
Michael cashed a check for $1,200 and received only $10 and $50 bills in return. During the course of a day, he used 15 bills and then lost the rest of the money. If the number of $10 bills used was either one more or one less than the number of $50 bills used, what is the minimum possible amount of money that was lost?

(A) $830
(B) $800
(C) $770
(D) $730
(E) $700
Show more

OA is D

Total 15 bills used, As per question below scenario can happen :

Case 1 - 10$ - 8 50$ - 7 Total = 430$ Lost = 1200-430 = 770$
Case 2 - 10$ - 7 50$ - 8 Total = 470$ Lost = 1200-470 = 730$
Minimum lost - 730$
User avatar
chloe2m
User avatar
Joined: 21 Sep 2023
Last visit: 20 Nov 2024
Posts: 13
Own Kudos:
1
 [1]
Given Kudos: 39
GMAT 1: 610 Q47 V28
GMAT 1: 610 Q47 V28
Posts: 13
Kudos: 1
 [1]
Michael cashed a check for $1,200 and received only $10 and $50 bills 19 Jan 2024, 11:06
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Bunuel
Michael cashed a check for $1,200 and received only $10 and $50 bills in return. During the course of a day, he used 15 bills and then lost the rest of the money. If the number of $10 bills used was either one more or one less than the number of $50 bills used, what is the minimum possible amount of money that was lost?

(A) $830
(B) $800
(C) $770
(D) $730
(E) $700
Show more

If x is the amount of 10$ bills. And y was the amount of 50$ bills.
We have: 10x + 50y = 1200

We are looking for the minimum possible amount that was lost, therefore the amount of the 15 bills that were spent has to be maximum.
Thus we are looking for 10x + 50y that is max, where x + y = 15
From the prompt, x can either be y - 1 or y + 1
For 10x + 50y to be max y has to be the biggest factor between ( y ; x) therefore x is y - 1
So ( y ; x) = ( 8 ; 7)

Amount that was used: 10*7 + 50*8 = 470
Amount that was lost: 1200 - 470 = 730 (D)

If anyone has a quicker way of solving this and explaining how 8 and 7 are the factors that maximise 10x + 50y please advise :)
User avatar
Adarsh_24
User avatar
Joined: 06 Jan 2024
Last visit: 03 Apr 2025
Posts: 240
Own Kudos:
65
Given Kudos: 2,015
Posts: 240
Kudos: 65
Michael cashed a check for $1,200 and received only $10 and $50 bills 20 Sep 2024, 23:44
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Assuming no. of 50 bills as x.
No of 10 bills are x+1 or x-1
2x+1=15 => x=7
2x-1=15=> x=8
Minimum lost =>so maximum used.
Max used when there is more 50 bills out of 15.
So x=8
Then money lost = 1200 - money used = 1200-(8*50+7*10)=1200-470=730
User avatar
bumpbot
User avatar
Non-Human User
Joined: 09 Sep 2013
Last visit: 04 Jan 2021
Posts: 38,984
Own Kudos:
1,119
Posts: 38,984
Kudos: 1,119
Michael cashed a check for $1,200 and received only $10 and $50 bills 12 Jan 2026, 09:59
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Automated notice from GMAT Club BumpBot:

A member just gave Kudos to this thread, showing it’s still useful. I’ve bumped it to the top so more people can benefit. Feel free to add your own questions or solutions.

This post was generated automatically.
Moderators:
Bunuel
Math Expert
109929 posts
Krunaal
Tuck School Moderator
852 posts