Abstract
A common problem about currency denomination is the change-making problem. In this paper, a generalized denomination-related problem inspired by the optimal denomination problem is discussed, namely the bilateral optimal denomination problem. The solution maximizes a certain monetary value and thus can be applied in pricing strategies. Two key issues need to be addressed. One is how to properly formulate the problem in mathematical language. The other is how to compute the corresponding result with an algorithm. The paper learns from existing denomination algorithms and provides a solution to the problem from construction to implementation. Some limitations are needed to improve the practicality of the solution. An example of threshold discounts is used to illustrate the real-life application of the proposed problem.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
