Gold Bar Fewest Cut

A worker is to perform work for you for seven straight days. In return for his work, you will pay him 1/7th of a bar of gold per day. The worker requires a daily payment of 1/7th of the bar of gold. What and where are the fewest number of cuts to the bar of gold that will allow you to pay him 1/7th each day?




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_ _ _ IE _ _
_ _ _ IE _
_ _ IE _ _
_ _ IE _
_ _ _ _ IE

Like you see, some letters have gone missing from these words that contain the IE pair at some or the other place. The letters that will be used to fill the blanks are given below. Use them and form meaningful words. Can you do that?

A, C, D, F, H, K, L, M, N, N, O, R, R, S, S, S, T, T, Y and Y.

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No Solution

In 2007, a puzzle was released and $2 million prizes were offered for the first complete solution. The competition ended at noon on 31 December 2010, with no solution being found. Wiki