Question

You are asked to distribute ​$1525 in prize money. the dollar amounts for the prizes are​ $625, $125,​ $25, $5, and​ $1. how should this money be distributed in order to give the fewest number of​ prizes?

Answer 1

2 $625 prizes (1250), 2 $125 prizes (250), 1 $25 prize

1250 + 250 + 25 = 1525

Answer 2

625 × 2 + 125 × 2 + 25

Explanation:

In order to give fewest number of prizes larger amount of money should be distribute more times as compare to small amount of money.

Here we have two conditions:

(i) If all given prize money must be include once

Then, 625 × 2 + 125 + 25 × 5 + 5 × 4 + 1 × 5

Thus, total number of prizes = 2 + 1 + 5 + 4 + 5 = 17

(ii) If it is not necessary to include all prize money.

Then, 625 × 2 + 125 × 2 + 25

Here total number of prizes is 2 + 2 + 1 = 5