The student has 15 total bills, some are worth $1 and some are worth $5. If I told you he had five $5 bills, how would you find out how many $1 bills he has? You'd say:
fifteen total bills - five $5 bills = ten $1 bills
But we don't know how many $5 bills he has. Whenever we don't know a value in math we can use a variable. Let's use x.
So he has x $5 bills. Then he has (15-x) $1 bills. If we add all the bills together, it must equal $43.
(x)($5) + (15-x)($1) = $43
We can make this a little easier to read by rearranging and dropping the $ signs:
15-x+5x=43
Now solve:
15+4x=43
4x=28
x=7
Since x is 7, he has seven $5 bills. The remainder, then are $1 bills: 15-7=8.
It's always good to check your answer:
7x$5=$35
8x$1=$8
$35+$8=$43
This checks out.
The student has seven $5 bills and eight $1 bills.