The average monthly savings of Shifa for the first 5 months is Rs. 2120, for the next 3 months is Rs. 4260 and for the remaining months of the year is Rs. 3140. Now, the average monthly expenditure for the complete year is Rs. 11000. Find the total income of the year
This questions was previously asked in
IBPS PO Prelims (04 Dec, 2021 Shift 3)
Rs. 170,520
Incorrect AnswerRs. 174,680
Incorrect AnswerRs. 180,950
Incorrect AnswerRs. 167,940
Correct AnswerRs. 190,360
Incorrect AnswerExplanation:
- Calculate Shifa's total savings for the year:
- First 5 months: Average savings = Rs. 2120 ? Total = 5 × 2120 = Rs. 10,600
- Next 3 months: Average savings = Rs. 4260 ? Total = 3 × 4260 = Rs. 12,780
- Last 4 months: Average savings = Rs. 3140 ? Total = 4 × 3140 = Rs. 12,560
- Total savings = 10,600 + 12,780 + 12,560 = Rs. 35,940
- Calculate Shifa's total expenditure for the year:
- Average expenditure = Rs. 11,000
- Total expenditure for 12 months = 12 × 11,000 = Rs. 132,000
- Determine Shifa's total income for the year:
- Total income = Total savings + Total expenditure
- Total income = 35,940 + 132,000 = Rs. 167,940
- Select the correct option:
- Option 1: Rs. 170,520
- Option 2: Rs. 174,680
- Option 3: Rs. 180,950
- Option 4: Rs. 167,940
- Option 5: Rs. 190,360
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By: Parvesh Mehta