# Monetary question

1. Nick is one-forth his grandfatherâ??s age. Five years ago, he was one-fifth his grandfatherâ??s age.

How old are Nick and his Grandfather now?

2. Eloise bought new clothes for school. In the first store, she spent half the money she had, plus $10. In the second store, she spent half of what was left, plus $5. In the last store, she spent three-fourths (3/4) of what was left, and came home with $5.

How much money did Eloise start out with?

Three businessmen check into a motel for the night and the manager tells them the cost of the room is $30.

Each man hands the manager a $10 and they head off to their room. A few minutes later, the manager realizes he has made an error and overcharged the trio by $5. He summons the bellhop and hands him a $5 bill and instructs him to return the money to the 3 businessmen who had just checked in.

On the way up to the room, the bellhop pockets the $5 bill and takes out three $1 bills. The bellhop tells the men that the manager made a mistake and over charged them for the room. He hands back to each man a $1 bill and says nothing of the $2 he kept for himself.

Each businessman has now paid $9 for the room ($9 X 3= $27), plus the bellhop kept $2, which brings the total up to $29. The original price of the room was $30, so where is the missing dollar?

#### Solution Preview

1. Let us assume Nick age = X, and his grandfather age=Y.

1st condition:

X = Y/4

=> 4*X = Y -- (1)

2nd condition:

(X-5) = (Y-5)/5

=> 5*X - 25 = Y - 5

=> 5*X = Y + 20 -- (2)

Equation (2) - (1):

5*X - 4*X = Y +20 - Y

=> X = 20

There fore, from Equation (1):

Y = 4*X = 4*20 = 80

Hence, Nick is of the age 20yrs and his grandfather is of the age 80 years. --Answer

2.

Let us assume Eloise has $x at the start

Money spent ...

#### Solution Summary

Monetary questions are reinforced.