Friday, 12 December 2014

A Matter of Denomination




            One morning I west to draw some money from my bank.  The ‘Cashier behind the counter smiled at me and said ‘I’ve got here money of all denominations. I’ ve got denominations of 1 paise , 5 paise, 10  Paise , 25 Paise, 50 paise , Re 1/-, Rs 2/, Rs 5/, Rs 10/ , Rs 20/, Rs 50/ Rs 100/, Rs 500 /, - and Rs 1000/-.

            How many different amounts of money can I make by taking one or more of each denomination?  What do you think my answer was?

Answer 14      14       14       14          14
 (1)    +    (2) +  (3)  +  (4)  + … (14)  = 2¹⁴  -1  =16383


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