Try this beautiful problem from AMC-8, 2002 related to money (problem 25).
Loki, Moe, Nick and Ott are good friends. Ott had no money, but the others did. Moe gave Ott one-fifth of his money, Loki gave Ott one-fourth of his money and Nick gave Ott one-third of his money. Each gave Ott the same amount of money. What fractional part of the group's money does Ott now have?
Algebra
Number theory
fraction
Answer:\(\frac{1}{4}\)
AMC-8 (2002) Problem 25
Challenges and Thrills in Pre College Mathematics
Each Friend gave Ott the equal amount of money
Can you now finish the problem ..........
Assume that ott gets y dollars from each friend
Can you finish the problem........
Given that Ott gets equal amounts of money from each friend,
we can say that he gets y dollars from each friend.
This means that Moe has 5y dollars,
Loki has 4y dollars, and Nick has 3y dollars.
The total amount is 12y dollars,
Therefore Ott gets 3y dollars total,
Required fraction =\(\frac{3y}{12y} = \frac{1}{4}\)
AMC - AIME Boot Camp... for brilliant students.
Use our exclusive one-on-one plus group class system to prepare for Math Olympiad
In 2026, the following Cheenta students have been successful for Indian Statistical Institute's M.Stat Entrance. They ranked within the first 50 in the entire country in these entrances. I.S.I. M.Stat Entrance
In 2026, the following Cheenta students have been successful for Indian Statistical Institute's B.Stat Entrance and Chennai Mathematical Institute's B.Sc. Math Entrance. They ranked within the first 200 in the entire country in these entrances. Most of these students attended the problem solving workshops regularly, which happen 5 days every week. CMI B.Sc. Math Entrance […]
In 2025, 8 students from Cheenta Academy cracked the prestigious Regional Math Olympiad. In this post, we will share some of their success stories and learning strategies. The Regional Mathematics Olympiad (RMO) and the Indian National Mathematics Olympiad (INMO) are two most important mathematics contests in India.These two contests are for the students who are […]
Cheenta Academy proudly celebrates the success of 27 current and former students who qualified for the Indian Olympiad Qualifier in Mathematics (IOQM) 2025, advancing to the next stage — RMO. This accomplishment highlights their perseverance and Cheenta’s ongoing mission to nurture mathematical excellence and research-oriented learning.
Good