Let's call the number of stamps Myra has M and the number of stamps Rick has R.
We know that Rick has 150 fewer stamps than Myra, so we can say R = M - 150. We also know that together they have collected 500 stamps, so we can say R + M = 500.
Substituting the value of R from the first equation into the second equation, we get (M - 150) + M = 500.
Combining like terms, we get 2M - 150 = 500. Adding 150 to both sides of the equation, we get 2M = 650.
Dividing both sides of the equation by 2, we get M = 325.
Substituting the value of M into the first equation, we get R = 325 - 150 = 175.
So Myra has 325 stamps and Rick has 175 stamps.
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