A banker in Texas who is also a self-taught mathematician is going to award anyone who can solve a difficult math problem with $1 million.

The problem is the Beal Conjecture number theory, and it has been confusing mathematicians since the '80s.

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The average American throws away 82lbs of clothes:D. Andrew Beal, the banker, first offered the Beal Prize in 1997 for $5,000. As time passed, the amount grew.

The American Mathematical Society said on Tuesday that a solution is more difficult than the one for a similar problem, the Fermat's Last Theorem, which wasn't solved for hundreds of years.

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The average American throws away 82lbs of clothes:Beal hopes that the prize will inspire young people to pursue math and science.

A committee for AMS will award the million-dollar prize once there is proof of, or a counterexample to, the Beal Conjecture, and it is published in a mathematics publication.

Meanwhile, the prize is in the possession of AMS in a trust.

Sources: Daily Mail, Fox