Multiple choice

A survey conducted on the income pattern of two kinds of customers; royal and premium of company X reveals that the average income of a customer is \$2,000 per month. If there are a total of 20 royal customers and their average income is \$1800, and if the ratio of royal and premium customers surveyed is 2 : 3, what is the average income of the premium customers per year?

  1. $23,000
  2. $24,500
  3. $25,600
  4. $27,600
  5. $30,000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Total customers = 20 (royal) + 30 (premium) = 50. Total income = 50 * 2000 = 100,000. Royal income = 20 * 1800 = 36,000. Premium income = 100,000 - 36,000 = 64,000. Average premium income per month = 64,000 / 30 = 2133.33. Yearly = 2133.33 * 12 = 25,600.

AI explanation

The premium customers number is 20 divided by 2 and multiplied by 3, giving 30. The total customers are 20 plus 30, giving 50, so the total income is 50 multiplied by 2000, giving 100000. The total income of royal customers is 20 multiplied by 1800, giving 36000. The total income of premium customers is 100000 minus 36000, giving 64000. The average monthly income of a premium customer is 64000 divided by 30, giving 2133.33, and multiplying by 12 gives the yearly average of 25600.

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