The average monthly expenditure of a family was rupees 6240 during the first three month rupees 6780 during the next 4 months and rupees 7236 during the last five months of year if the total savings during the year is 7080 find the average monthly income of the family.
Answers
Answer:
Rs.7245
Step-by-step explanation:
Average = Sum of observations / No. of observations
Sum of observations = Average * No. of observations
First three months
Average expenditure per month in Rupees = 6240
=> Sum of expenditure = 6240 * 3 = 18720
Next four months
Average expenditure per month in Rupees = 6780
=> Sum of expenditure = 6780 * 4 = 27120
Last five months
Average expenditure per month in Rupees = 7236
=> Sum of expenditure = 7236 * 5 = 36180
Expenditure for the whole year = 18720 + 27120 + 36180
= 82020
Total expenditure during the year = Rs.82,020
Given: Total saving during the year = Rs.7,080
Now,
Saving = Income - Expenditure
=> Savings in the year = Total income in the year - Total expenditure in the year
=> 7080 = Total income - 82020
=> Total income = 82020 + 7080
= 89100
Total income during the year = Rs.89,100
=> Average income during the year = 89100 / 12 = 7245
Answer: Average monthly income of the family = Rs.7,245