Question

Find the average yearly expenditure of a bank in which 51 managers, 67 Scale 2 officer, 73 Scale 1 officer and 80 clerks. The monthly salary of manager, Scale 2 officer, Scale 1 officer and clerk is Rs. 50350, Rs. 46500, Rs. 38750 and Rs. 22350 respectively.
1. Rs. 456093
2. Rs. 457097
3. Rs. 456145
4. Rs. 456206

Answer 1

Correct Answer - Option 1 : Rs. 456093

Given∶ Number of managers in bank = 51

Number of scale 2 officers in bank = 51

Number of scale 1 officers in bank = 51

Number of clerks in bank = 51

The monthly salary of a manager = Rs. 50350

The monthly salary of a scale 2 officer = Rs. 46500

The monthly salary of a scale 1 officer = Rs. 38750

The monthly salary of a clerk = Rs. 22350

Calculation∶

Total monthly salary of 51 managers = 50350 × 51 = Rs. 2567850

Total monthly salary of 67 Scale 2 officer = 46500 × 67 = Rs. 3115500

Total monthly salary of 73 Scale 1 officer = 38750 × 73 = Rs. 2828750

Total monthly salary of 80 clerks = 22350 × 80 = Rs. 1788000

Total monthly salary or expenditure = 2567850 + 3115500 + 2828750 + 1788000 = 10300100

Total number of employee = 51 + 67 + 73 + 80 = 271

∴ Average monthly expenditure of the bank = 10300100/271

⇒ Average yearly expenditure of the bank = 10300100/271 × 12 = Rs. 456092.98 ≈ Rs. 456093