Question
"In a group of four investors in stocks, the highest
earner makes Rs. 5 lakh per month, while the lowest earner makes Rs. 2.4 lakh per month. Now, we want to determine which of the following statements is/are true: I. The average monthly investment of the investors can be Rs. 3.3 lakh. II. The average monthly investment of the investors can be Rs. 3 lakh. III. The difference between the maximum and minimum possible average monthly investments of the investors is Rs. 1.30 lakhs. You need to identify the statement(s) that hold true."Solution
ATQ, Maximum possible average investment of the investor will be achieved when three people earn the maximum possible investment i.e., Rs. 5 lakh per month. So, maximum possible average monthly investment of the investors = (5 + 5 + 5 + 2.4) ÷ 4 = Rs. 4.35 lakh Minimum possible average investment of the investor will be achieved when three people earn minimum possible investment i.e., Rs. 2.4 lakh per month. So, minimum possible average monthly investment of the investor = (2.4 + 2.4 + 2.4 + 5) ÷ 4 = Rs. 3.05 lakh Statement I: Since, minimum possible average monthly investment of the investor = (2.4 + 2.4 + 2.4 + 5) ÷ 4 = Rs. 3.05 lakh So, statement I is true. Statement II: Since, minimum possible average monthly investment of the investor = (2.4 + 2.4 + 2.4 + 5) ÷ 4 = Rs. 3.05 lakh So, statement II is not true For statement III: Required difference = 4.35 - 3.05 = Rs. 1.30 lakh Statement III: Since, difference between maximum and minimum investment of the investor = 1.35 - 3.05 = Rs. 1.30 lakh So, statement III is true.
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