Average Practice Test 4

Question : 13 of 40

Marks: +1, -0

An establishment is permitted an average monthly contingency expenditure of Rs. 500 per month during the financial year. When a trial check was made at the end of the first nine months of the year it was found that the average monthly contingency expenditure worked out to be Rs. 511. What average monthly expenditure for the next three months should be aimed at in order to attain the permissible average of Rs. 500 per month for the whole year?

Rs. 567
Rs. 467
367
Rs. 667

Validate

Solution:

Average monthly expenditure permitted = Rs. 500
Total expenditure permitted for 12 months = Rs. 500 × 12 = Rs. 6000
Expenditure incurred during the first nine months =Rs. 511 × 9 = Rs. 4,599
Expenditure for the last three month = Rs. (6000 – 4599) = Rs. 1,401
∴ Average monthly expenditure for the three months = Rs.

1401/3

= Rs. 467

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