New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    The average monthly expenditure of a family was Rs.

    2,500 during the first 4 months, Rs. 2,750 during the next 5 months and 3,550 during the last 3 months of a year. If the total saving during the year was Rs. 5,500, what was the average monthly income of the family?
    A Rs. 5,790 Correct Answer Incorrect Answer
    B Rs. 3,325 Correct Answer Incorrect Answer
    C Rs. 4,375 Correct Answer Incorrect Answer
    D Rs. 7,355 Correct Answer Incorrect Answer

    Solution

    First 4 months: Average expenditure = Rs. 2,500 Total for 4 months = 4 × 2500 = 10,000 Next 5 months: Average expenditure = Rs. 2,750 Total for 5 months = 5 × 2750 = 13,750 Last 3 months: Average expenditure = Rs. 3,550 Total for 3 months = 3 × 3550 10,650 Add these to get the total annual expenditure: Total Expenditure = 10,000+13, 750+10,650 =34, 400 Given the total savings for the year is Rs. 5,500, we can find the total income by adding the savings to the total expenditure: Total Income = Total Expenditure + Total Savings Total Income =34, 400+ 5,500 = 39,900 Average monthly income =39900/12 =3325.

    Practice Next

    Relevant for Exams: