Suppose a small bank has one teller and customer transactions take 10 minutes on average. With 5.8 customers arriving per hour, what is the expected wait time? What would it be if you added a second teller?
Alfred is at the bank to cash his $200 check. He tells the cashier he would like some one dollar bills, ten times as many two dollar bills and the rest in fives.
How many of each denomination does the cashier need to give Alfred?
We know that in order to give the rest of the amount in fives, the sum of the one and two dollar bills needs to be divisible by five (i.e. end in 0 or 5).
If we start with a single one dollar bill, we’d need ten two dollar bills to satisfy the request, making $21. But we need a sum that is divisible by 5. So we keep going up, like so:
Aiden and Sofia were debating a major purchase of candy. They calculated that they could get three bags of jelly beans and two bags of chocolate for 24 cents, which was just under their limit of 25 cents. They found they could also get four bags of chocolate and two bags of jelly beans for the same 24 cents. How much did each bag of candy cost?