The average monthly expenditure of a man is Rs. 2400 during the first three months, Rs. 3500 during the next five months and Rs. 4800 for the remaining four months. If his total saving is Rs. 3500 during the entire year, then what is his average monthly income (in Rs)?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 3950
The total expenditure for the first three months = 2400 × 3 = Rs.7200
The total expenditure for the five months = 3500 × 5 = Rs.17500
The total expenditure for the four months = 4800 × 4 = Rs.19200
The total expenditure in a year = 7200 + 17500 + 19200 = Rs.43900
The total income in a year = 439000 + 3500 = Rs.47400
Average = Summation of all observations/ Number of observations
The average monthly income = 47400/12 = Rs.3950