Question 56
The Table given below presents the annual expenses(in thousands) on various heads made by a firm during 2006-2010.
By how much percentage (correct up to two decimal places) is the average expenditure on purchases more than the average expenditure on rent?
Solution
Average expenditure on purchases = $$\frac{23500+28500+38500+41000+50000}{5}$$
= $$\frac{181500}{5}$$
= 36300
Average expenditure on rent = $$\frac{40000+34000+36000+20000+28000}{5}$$
= $$\frac{158000}{5}$$
= 31600
Percentage more = $$\frac{\left(36300-31600\right)}{31600}\times100$$
= $$\frac{4700}{31600}\times100$$
= 14.87%
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