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Answer: £240


Working out the sister's share
 or  
£20 + £20 + £20 = ?
£60 each so £60$\times$4 = £240 altogether


Using fractions
The difference between one third of the sum of money and one quarter of it is £20. So one twelfth of the sum of money is £20.

 

This problem is taken from the UKMT Mathematical Challenges.
You can find more short problems, arranged by curriculum topic, in our short problems collection.