In a dog show, there will be a gold, a silver, and a bronze medal awarded. There are 5 finalists. In how many different ways can the 3 medals be awarded?

Answer
60 ways

Explanation
In permutation the order really matters unlike combination where order does not matter.
The question wants you to find how many time you can choose 3 out of 5 with order.
This means we should find 5 permutation 3.

5P3=5!/3!
=(5×4×3×2×1)/(3×2×1)=5×4 
                                     =60