Assume there are four families in a country. The average per capita income of these families is ₹5000. If the income of three families is ₹4000, ₹7000 and ₹3000 respectively, what is the income of the fourth family?

To find the income of the fourth family, we’ll use the formula for average income:

Average income = Total income / Number of families

Given:
Average per capita income of the four families = ₹5000

Total income of the three families = ₹4000 + ₹7000 + ₹3000 = ₹14000

Number of families = 3 (since income information is given for only three families)

Let the income of the fourth family be ‘x’.

Average income = Total income / Number of families

₹5000 = (₹14000 + x) / 4 (as there are four families in total)

₹5000 * 4 = ₹14000 + x

₹20000 = ₹14000 + x

x = ₹20000 – ₹14000

x = ₹6000

Therefore, the income of the fourth family is ₹6000.