Question

The average expenditure of a person for the first five months of a year is ₹ 50,000 and for the next seven months it is ₹ 54,000. He saved ₹ 23,000 during the year. His average monthly income is:

• A. ₹ 55,000
• B. ₹ 54,250
• C. ₹ 54,460
• D. ₹ 56,000

Hint:

To find the average monthly income, first calculate the total income by adding savings to the total expenditure, and then divide by 12 (for 12 months).

Answer 1

The Correct Option is B

Let the total income of the person for the year be \( I \). - The total expenditure for the first 5 months is: \[ 5 \times 50,000 = 250,000 \] - The total expenditure for the next 7 months is: \[ 7 \times 54,000 = 378,000 \] Thus, the total expenditure for the year is: \[ 250,000 + 378,000 = 628,000 \] The person saved ₹ 23,000 during the year, so the total income is: \[ I = 628,000 + 23,000 = 651,000 \] The average monthly income is: \[ \text{Average Income} = \frac{651,000}{12} = 54,250 \] Thus, the average monthly income is ₹ 54,250.