Using the four area-wise average monthly salaries in the table, the average…
2024
Using the four area-wise average monthly salaries in the table, the average monthly salary offered to an M. Tech. (Computer Science) student in 2023 is approximately ________% more than that in 2022.
Answer: A. 12.17 — CONCEPTWhen several category-wise values are given equal weight, their arithmetic mean is the sum of the values divided by the number of categories.…
- A.
12.17
- B.
17.14
- C.
25
- D.
5.43
Show answer & explanation
Correct answer: A
CONCEPT
When several category-wise values are given equal weight, their arithmetic mean is the sum of the values divided by the number of categories. Percentage increase is calculated as: (new mean − old mean) ÷ old mean × 100.
APPLICATION
For 2022, add the four area-wise salaries: ₹89,200 + ₹89,600 + ₹77,600 + ₹66,400 = ₹3,22,800.
Divide by four areas: 2022 mean = ₹3,22,800 ÷ 4 = ₹80,700.
For 2023, add the four area-wise salaries: ₹98,100 + ₹1,02,200 + ₹86,400 + ₹75,400 = ₹3,62,100.
Divide by four areas: 2023 mean = ₹3,62,100 ÷ 4 = ₹90,525.
The increase is ₹90,525 − ₹80,700 = ₹9,825.
Percentage increase = (₹9,825 ÷ ₹80,700) × 100 = 12.1747…%, which is approximately 12.17%.
CROSS-CHECK
The ratio ₹90,525 ÷ ₹80,700 = 1.121747…; therefore the 2023 mean is about 1.1217 times the 2022 mean, confirming an increase of approximately 12.17%.
RESULT
Therefore, the required percentage is 12.17%.