IMO 2014 · Problem 5

For each positive integer \(n\), the Bank of Cape Town issues coins of denomination \(\frac{1}{n}\). Given a finite collection of such coins (of not necessarily different denominations) with total value at most \(99+\frac{1}{2}\), prove that it is possible to split this collection into 100 or fewer groups, such that each group has total value at most 1.

Official text of the problem. Official problem paper (PDF)

Solution

We may temporarily combine coins into a single coin of the same total value. Any grouping obtained afterwards gives a grouping of the original coins by undoing these combinations.

Repeatedly perform either of the following operations whenever possible:

  • Replace \(n\) coins of denomination \(1/n\), where \(n\ge 2\), with one coin of denomination \(1\).
  • Replace two coins of denomination \(1/(2k)\), where \(k\ge 1\), with one coin of denomination \(1/k\).

Each operation preserves the total value and decreases the number of coins, so the process terminates. In the resulting collection:

  • For every \(n\ge 2\), there are at most \(n-1\) coins of denomination \(1/n\).
  • For every \(k\ge 1\), there is at most one coin of denomination \(1/(2k)\).

Let \(r\) be the number of coins of denomination \(1\). Put each of these in its own group. Since the total value is at most \(99+\frac12\), we have \(r\le 99\). Write \[ m=100-r\ge 1. \] The total value \(T\) of the remaining coins satisfies \[ T\le 99+\frac12-r=m-\frac12. \] We will put these coins into at most \(m\) groups.

Start with \(m\) groups \(G_1,\ldots,G_m\), allowing empty groups. For each \(j=1,\ldots,m\), place in \(G_j\) all remaining coins of denominations \[ \frac1{2j-1}\qquad\text{and}\qquad\frac1{2j}. \] There are at most \(2j-2\) coins of the first denomination and at most one of the second. For \(j=1\), the first assertion holds because all denomination-\(1\) coins have been removed. Thus \[ \operatorname{value}(G_j) \le \frac{2j-2}{2j-1}+\frac1{2j} =1-\frac1{2j(2j-1)} <1. \]

Every unassigned coin now has denomination \(1/n\) with \(n>2m\), so its value is less than \(1/(2m)\). Insert these coins one at a time into any group where they fit.

This procedure cannot fail. Indeed, suppose a coin of value \(x<1/(2m)\) fits into none of the \(m\) groups. Each group would then have value greater than \[ 1-x>1-\frac1{2m}. \] Consequently, the total value already placed in the groups would be greater than \[ m\left(1-\frac1{2m}\right)=m-\frac12, \] contradicting \(T\le m-\frac12\).

We therefore obtain at most \(m\) groups for the remaining coins, each of value at most \(1\). Together with the \(r\) singleton groups, there are at most \[ m+r=100 \] groups. Undoing all coin combinations and discarding empty groups gives the required partition of the original collection. \(\square\)

The solution was checked against the official IMO shortlist solutions.