Can Anyone Explain this Program "Money Denomination"

It's a very simple (and basic) concept which I implemented in one of my applications.

 

Basically, you have 15-20 people to pay some amount. Each person you have to pay different amount, for one 123.50, for another 456.00. Now you want to know how notes of 1000, 500, 100, 50, 20, 10, etc. you will need so that you don't have any change issue.

 

So in above case, I will need 5 100 rupee notes, 1 50 rupee note and may be rest in coins, but i can go to the details of 1 5 rupee coin/note, 4 1 rupee coins and one 50 paise coin.

 

The program that you are seeing is finding out this after amount is entered in a text box.

 

Hope it helps!