2021 JMPSC Problems/Problem 2

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Problem

Brady has an unlimited supply of quarters ($0.25), dimes ($0.10), nickels ($0.05), and pennies ($0.01). What is the least number (quantity, not type) of coins Brady can use to pay off $$ (Error compiling LaTeX. Unknown error_msg)2.78$?

== Solution ==

To minimize the number of coins, we need to maximize the amount of high-valued coins we use. 11 quarters are worth$ (Error compiling LaTeX. Unknown error_msg)$2.75$, which is the most quarters we can use to get a value less than or equal to $$ (Error compiling LaTeX. Unknown error_msg)2.78$. Finally, we can add 3 pennies to get a total of$$2.87$, so the answer is $11+3=14$.