A student saves an average of ₹4,000 per month for the first three months. How much should be saved (in ₹) on an average per month over the next 9 months to average ₹4,375 per month over the whole year?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 4500.
Total saving required for whole year = 12 × 4375 = 52500
Saving in first 3 months = 3 × 4000 = 12000
Remaining saving required = 52500 − 12000 = 40500
Average saving for next 9 months = 40500 ÷ 9 = 4500