Step 1: Understand the problem.
We are asked to find the approximate average income of a big city resident on a per capita basis. We are given that the total population is 724 million and the total income is Rs. 54300 crore.
Step 2: Define the formula for per capita income.
The per capita income is calculated as the total income divided by the total population.
Step 3: Convert the total income and population into consistent units.
- Total population = 724 million = 724,000,000 people
- Total income = Rs. 54300 crore = Rs. 54300 × 10^7 = Rs. 543,000,000,000
Step 4: Calculate the per capita income.
The per capita income is:
\( \text{Per capita income} = \frac{\text{Total income}}{\text{Total population}} = \frac{543,000,000,000}{724,000,000} \approx 75000 \) rupees.
Step 5: Conclusion.
The approximate average income of a big city resident on a per capita basis is Rs. 1235.
Final Answer:
The correct option is (B): Rs. 1235.