Question

Suppose, the monthly income of the family members is as follows respectively:
• Mother - Rs. 50,000/- • Father - Rs. 40,000/-
• Son - Rs. 20,000/-        • Daughter - Rs. 20,000/-
The average income of the family would be:

• A. Rs. 32,000/-
• B. Rs. 30,000/-
• C. Rs. 32,500/-
• D. Rs. 33,000/-

Answer 1

The Correct Option is C

The average income is calculated using the formula:
\[\text{Average Income} = \frac{\text{Total Income}}{\text{Number of Members}}\]
The total income is calculated as:
\[\text{Total Income} = 50,000 + 40,000 + 20,000 + 20,000 = 1,30,000\]
The number of members is 4.
\[\text{Average Income} = \frac{1,30,000}{4} = 32,500\]
Therefore, the average monthly income is Rs. 32,500/-.