Question : The average expenditure of a man for the first five months is INR 1,200 and for the next seven months is INR 1,300. If he saves INR 2,900 in that year, his monthly average income is:
Option 1: INR 1,500
Option 2: INR 1,600
Option 3: INR 1,700
Option 4: INR 1,400
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Correct Answer: INR 1,500
Solution :
The average expenditure of a man for the first five months = INR 1,200
The average expenditure of a man for the next seven months = INR 1,300
Total annual expenditure = 5 × 1200 + 7 × 1300 = INR 15,100
Savings = INR 2,900
Total annual income = 15100 + 2900 = INR 18,000
Average monthly income = $\frac{18000}{12}$ = INR 1,500
Hence, the correct answer is INR 1,500.
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