economicsAssume there are four families in a country. The average per capita income of these families is Rs 5000. If the income of three families is Rs 4000 , Rs 7000 and Rs 3000 respectively, what is the income of the fourth family?

Assume there are four families in a country. The average per capita income of these families is Rs 5000. If the income of three families is Rs 4000 , Rs 7000 and Rs 3000 respectively, what is the income of the fourth family?

A
Rs 7,500
B
Rs 3,000
C
Rs 2,000
D
Rs 6,000

Solution:

We can find the income of the fourth family by subtracting the income values of the three families from the total income.
The average per capita income of four families = Rs. 5000
The total income = 5000 × 4 = Rs. 20,000
The total income of three families = 4000 + 7000 + 3000 = 14,000
Thus, the income of the fourth family = 20,000 - 14,000 = 6,000.