Final answer:
Jerry has 4 $5 bills and 3 $10 bills in his wallet.
Step-by-step explanation:
To solve this problem, let's assume that Jerry has x number of $5 bills and y number of $10 bills in his wallet.
We are given two pieces of information:
1. Jerry has a total of 7 bills in his wallet, which means x + y = 7.
2. The total value of the bills in his wallet is $50, which means 5x + 10y = 50.
We now have a system of two equations in two variables:
x + y = 7 (Equation 1)
5x + 10y = 50 (Equation 2)
To solve this system, we can use the substitution method or the elimination method. Let's use the elimination method:
Multiply Equation 1 by 5:
5x + 5y = 35 (Equation 3)
Subtract Equation 3 from Equation 2:
5x + 10y - (5x + 5y) = 50 - 35
5y = 15
y = 3
Substitute the value of y back into Equation 1:
x + 3 = 7
x = 4
Therefore, Jerry has 4 $5 bills and 3 $10 bills in his wallet.