In a retail outlet, the average revenue was Rs.10,000 per day over a 30 day period. During this period, the average revenue on weekends (total 8 days) was Rs. 20,000 per day. What was the average daily revenue on weekdays?
- 6364
- 5250
- 6570
- 8060
The Correct Option is A
Approach Solution - 1
To find the average daily revenue on weekdays, we need to first calculate the total revenue for the entire period and then for the weekends. Using these, we will determine the revenue for weekdays and subsequently the average weekday revenue.
- The average revenue for the entire 30-day period is Rs. 10,000 per day. Therefore, the total revenue for 30 days is calculated as follows: \(Total\ Revenue = Average\ Revenue \times Number\ of\ Days = 10,000 \times 30 = 300,000\) Rs.
- The average revenue on weekends is Rs. 20,000 per day. There are 8 weekend days in the 30-day period, so the total weekend revenue is: \(Weekend\ Revenue = Average\ Weekend\ Revenue \times Number\ of\ Weekend\ Days = 20,000 \times 8 = 160,000\) Rs.
- To find the total revenue for weekdays, we subtract the total weekend revenue from the overall total revenue: \(Weekday\ Revenue = Total\ Revenue - Weekend\ Revenue = 300,000 - 160,000 = 140,000\) Rs.
- There are 30 days in total and 8 of them are weekends, so the number of weekdays is: \(Number\ of\ Weekdays = 30 - 8 = 22\) days.
- Finally, the average revenue per weekday is calculated by dividing the total weekday revenue by the number of weekdays: \(Average\ Weekday\ Revenue = \frac{Weekday\ Revenue}{Number\ of\ Weekdays} = \frac{140,000}{22} \approx 6363.64\) Rs.
- Rounding off to the nearest integer, the average weekday revenue is Rs. 6364.
Thus, the average daily revenue on weekdays is 6364.
Approach Solution -2
To find the average daily revenue on weekdays, we need to determine the total revenue for both weekends and weekdays, and then calculate the weekday average.
Step 1: Calculate total revenue for the 30-day period.
The average revenue over 30 days is Rs. 10,000 per day, so the total revenue for this period is:
30 \times 10,000 = 300,000 Rs.
Step 2: Calculate total revenue for the weekends.
The average revenue on weekends is Rs. 20,000 per day over 8 days. Therefore, the total revenue for the weekends is:
8 \times 20,000 = 160,000 Rs.
Step 3: Calculate total revenue for the weekdays.
The remaining days in the 30-day period are weekdays. Therefore, the number of weekdays is:
30 - 8 = 22 days.
Subtract the weekend revenue from the total revenue to find the weekday revenue:
300,000 - 160,000 = 140,000 Rs.
Step 4: Calculate average daily revenue on weekdays.
The average revenue on weekdays is the total revenue for weekdays divided by the number of weekdays:
\frac{140,000}{22} \approx 6363.64 Rs.
Rounding off, the average daily revenue on weekdays is approximately Rs. 6364, which matches the given correct option.
Conclusion: The average daily revenue on weekdays is Rs. 6364, making it the correct answer.
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