Its a good question bballman that a lot of players/parents face.
I don't really know if there is a 'right' answer. We kind of treated offers and scholarship amounts similar to how I would treat my salary. Its our business and no one elses.
However, I never thought it was a problem if they knew that there was in fact another offer.
We advised our son(s) to give the following answer if asked (and they did):
My parents have asked that I not give the amount of my offer to XYZ U., but I do know that it is enough that if I want to choose that school, my parents have said that it is just fine.
No one ever asked our sons to go any farther than that answer.