Coley went to buy fishing equipment with $100. If he spent $40 on a new reel, 20% of what is left on some lures, 1/8 of his original money on hooks, and 31/71 of what is left of his money on a fishing license, how much cash does he have left?

He has $20 cash

Step-by-step explanation:

* Lets explain how to solve the problem

- The total money with Coley is $100

∵ He spent $40 on a new reel

∴ The money left = 100 - 40 = $60

- He spent 20% of money left on some lures

∵ The money left is 60

∴ He spent on some lures = 20/100 * 60 = $12

- He spent 1/8 of his original money on hooks

∵ The original money is $100

∴ He spent on hooks = 1/8 * 100 = $12.5

∵ He spent $40, $12 and $12.5

∴ The money left = 100 - (40 + 12 + 12.5) = $71/2

∵ He spent 31/71 of the money left on fishing license

∴ He spent on the fishing license = 31/71 * 71/2 = 31/2 = $15.5

∵ He spent $40, $12, $12.5 and $15.5

∵ He went with $100

∴ The money left with him = 100 - (40 + 12 + 12.5 + 15.5)

∴ The money left with him = 100 - 80 = $20

* He has $20 cash