**Concept: The question tests on Word Problems**

**Solution:**

Although, this can be done using the options, which is the simplest method, let us solve using equations

Let the number of 5 rupee notes = x and the number of 2 rupees = y

5x + 2y = 29 ... (1)

The number of 5 rupee notes is 1/2 of 1 less than the 2 rupee notes: x = (1/2)*(y - 1) or y = 2x + 1 .. (2)

Putting (2) in (1), we get 5x + 2(2x + 1) = 29

5x + 4x + 2 = 29

9x = 27

x = 3 and y = 2x + 1 = 7**Option B**