guerrero 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
OAD
To MINIMIZE the value of the LOST checks, we must MAXIMIZE the value of the CASHED checks.
Thus, the number of $50 checks that are cashed must be one MORE than the number of $10 checks that are cashed.
Let the number of $50 checks that are cashed = 4 and the number of $10 checks that are cashed = 3, for a total of 7 cashed checks.
Thus:
Maximum possible value of the cashed checks = 5*40 + 3*10 = 230.
Minimum possible value of the lost checks = 1500-230 = 1270.
The correct answer is
D.
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