The average monthly expenditure of a man is ₹2,400 during the first three months, ₹3,500 during the next five months and ₹4,800 for the remaining four months. If his total saving is ₹3,500 during the entire year, then what is his average monthly income (in ₹)?
Answer & explanation
Correct answer: option 4
Sum of expenditure of first 3 months = 3 × 2400 = 7200
Sum of expenditure of next 5 months = 5 × 3500 = 17500
Sum of expenditure of last 5 months = 4 × 4800 = 19200
Savings = 3500
Average monthly income = \(\frac{7200 + 17500 + 19200 + 3500 }{12}\)
= \(\frac{47400}{12}\)
= 3950