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A tourist purchased a total of $1,500 worth of travelers checks in $1
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30 Mar 2022, 01:41
30 Mar 2022, 01:41
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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
(A) $1,430
(B) $1,310
(C) $1,290
(D) $1,270
(E) $1,150
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Re: A tourist purchased a total of $1,500 worth of travelers checks in $1
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30 Mar 2022, 05:38
30 Mar 2022, 05:38
1
Carcass wrote:
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
(A) $1,430
(B) $1,310
(C) $1,290
(D) $1,270
(E) $1,150
The tourist cashed 7 checks. The number of $10 checks cashed was one more OR one less than the number of $50 checks cashed
There are two possible cases:
case i: The tourist cashed 4 10-dollar checks and 3 50-dollar checks
case ii: The tourist cashed 3 10-dollar checks and 4 50-dollar checks
What is the minimum possible value of the checks that were lost?
To minimize the value of the lost checks, we must MAXIMIZE the value of the checks that were cashed.
Case ii (above) maximizes the value of the checks that were cashed.
Value of 3 10-dollar checks and 4 50-dollar checks = (3)($10) + (4)($50) = $230
Value of checks that were LOST = $1,500 - $230 = $1270
Answer: D
gmatclubot
Re: A tourist purchased a total of $1,500 worth of travelers checks in $1 [#permalink]
30 Mar 2022, 05:38
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