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The average monthly income of a person in a certain family of 5 is Rs. 10,000. What will be the average monthly income of a person in the same family if the income of one person increased by Rs. 1,20,000 per year?
- A.Rs. 12,000
- B.Rs. 16,000
- C.Rs. 20,000
- D.Rs. 34,000
▶ Answer & Explanation
Correct answer: C. Rs. 20,000
The initial total monthly income for 5 people is 5 * Rs. 10,000 = Rs. 50,000. An annual increase of Rs. 1,20,000 for one person translates to a monthly increase of Rs. 1,20,000 / 12 = Rs. 10,000. The new total monthly income becomes Rs. 50,000 + Rs. 10,000 = Rs. 60,000. The new average monthly income per person is Rs. 60,000 / 5 = Rs. 12,000.
Source: UPSC csat 2016