Tim buys 3 loaves of bread. Each loaf of bread has 20 slices. He pays for the 3 loaves of bread with 2 $20 bills. He gets $16 change. How much does each slice cost, in cents? Let's answer step by step:
He gave 2 * 20 = $40. So the total cost was 40 - 16 = $24. That means each slice costs 24 / 3 = $8. That means it costs 8 * 100 = 800 cents. So each slice is 800 / 20 = 40 cents. The answer: 40.