Question
If some individual gets Rs. 3000 as her wage on the
first day of every month and if she spends exactly Rs. 100 every day and exhausts all her money by the end of the month, then what would be her approximate average money holding throughout the year?Solution
Her average money holding per month will be computed by the formula given below: Average money holding = (balance in the beginning of the month + balance at the end og the month) / 2 = (3000 + 0)/2 = Rs. 1500
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