The average monthly expenditure of a family was ₹8,600 during the first three months, ₹9,750 during the next four months, and ₹9,920 during the last five months of the year. If the total savings during the year were ₹65,300, the average monthly income (in ₹) of the family was:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 14,975.
Total expenditure = (8,600 × 3) + (9,750 × 4) + (9,920 × 5)
⇒ 25,800 + 39,000 + 49,600 = ₹1,14,400
Total income = Total expenditure + Total savings
⇒ 1,14,400 + 65,300 = ₹1,79,700
Averge monthly income = = ₹14,975