Question

The average monthly expenditure of a man is Rs.2400 during the first three month, Rs 3.500 during the next five months and Rs 4,800 for the remaining four months. If his total saving is Rs.3,500 during the entire year. then what is his average monthly income (in Rs)?
1. 4,550
2. 4,100
3. 3,700
4. 3,950

Answer 1

Correct Answer - Option 4 : 3,950

Given:

Average expenditure for first three months = Rs.2400

Average expenditure for five months = Rs.3500

Average expenditure for four months = Rs.4800

Formula:

Average = (Sum of terms)/Number of terms

Calculation:

Total expenditure for first three months = 2400 × 3 = Rs.7200

Total expenditure for five months = 3500 × 5 = Rs.17500

Total expenditure for four months = 4800 × 4 = Rs.19200

Total expenditure in a year = 7200 + 17500 + 19200 = Rs.43900

Total income in a year = 439000 + 3500 = Rs.47400

∴ Average monthly income = 47400/12 = Rs.3950