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 7500 b) Rs 3000 c) Rs 2000 d) Rs 6000

Answer: The correct answer is option (D) – Rs 6,000/-

Using the formula of average:

(4000+7000+3000+X) / 4 = 5000

We get, X = Rs 6,000/-

  • Per capita income is nothing but the average income.
  • The criterion used in classifying countries is the per capita income of a nation. This criterion is used by the World Bank in its World Development Reports.

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