Rakesh runs a coaching institute with 50 faculty members. The average monthly salary of 35 faculty members is ₹37,500. What will be the average monthly salary (in ₹) of the other 15 faculty members, if the average monthly salary of all 50 faculty members is found to be ₹30,000?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 12,500.
Average = Sum of observations/Number of observations
Sum of the salary of 35 faculty members = 35 × 37500 = Rs.1312500
Sum of the salary of 50 faculty members = 50 × 30000 = Rs.1500000
Sum of the salary of remaining 15 faculty members = 1500000 - 1312500 = Rs.187500
Average salary of 15 faculty members = 187500/15 = Rs.12500