A company has 100 employees, of whom 40% are women. The average monthly salary of the women is ₹60,000, while that of the men is ₹50,000. What is the overall average monthly salary (in ₹'000) of the whole workforce?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 54.
Number of women = 40/100 × 100 = 40
Number of men = 100 - 40 = 60
Total salary paid to women = 40 × 60000 = 2400000
Total salary paid to men = 60 × 50000 = 3000000
Total salary (all 100 employees) = 2400000 + 3000000 = 5400000
Overall average salary = 5400000/100 = 54000 = 54 (in ₹'000)