Question: Alice has 20 quarters. She wants to exchange them for nickels and so she goes to the bank. After getting back from the bank, she discovers that 20% of the nickels are iron nickels worth $3 each. What is the total value of her money now? Think carefully first, then make a decision:
A quarter is worth five nickels because .25 / .05 = 5. She gets 100 nickels from the bank because 20 x 5 = 100. 20 of the nickels are iron nickels because 100 x .20 = 20. 80 of the nickels are regular because 100 - 20 = 80. The iron nickels are worth $60 because 20 x 3 = 60. The regular nickels are worth $4 because 80 x .05 = 4. Her money is now worth $64 because 60 + 4 = 64. So the answer is 64.