is there an equation for working this out?
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The coins I assume to be 1p, 2p, 5p, 10p, 20p, 50p, £1, £2. There are 56 ways of selecting 5 different combinations of these 8 coins. These will all come to different amounts of money because the sum of all denominations, each lower than a particular denomination, is always less than that denomination. For example, take 50p, the sum of the lower denominations comes to 1+2+5+10+20=38p, which is lower than 50p. Therefore all 56 ways produce different amounts of money.

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