MBA Entrance Exams / #XAT

April 16, 2018

April 16, 2018 @ 06:44 PM


Questions on Mean & Median

XAT 2019 takers in January 2019 are advised to read following important questions on mean and the median: 
Bonus : Download XAT Tips PDF to crack XAT Exam 2019
Ramesh analyzed the monthly salary figures of five vice presidents of his company. All the salary figures are in integer lakhs. The mean and the median salary figures are Rs. 5 lakhs, and the only mode is Rs. 8 lakhs. Which of the options below is the sum (in Rs. lakhs) of the highest and the lowest salaries?
E.None of the above
Answer :  Option A: Rs. 9 lakhs
The mean salary of the five vice presidents is Rs.5 lakhs.
So, the sum of their salaries = 5 * 5 = 25 lakhs.
Let their salaries in ascending order be a, b, c, d and e.
So, a + b + c + d + e = 25.
The median salary is Rs.5 lakhs. So, c's salary is Rs.5 lakhs.
The only mode is Rs.8 lakhs.
So, Rs.8 lakhs salary is drawn by the maximum number of VPs.
C's salary is Rs.5 lakhs. So, d and e have to draw Rs. 8 lakhs each.
Therefore, a + b + 5 + 8 + 8 = 21 or a + b = 4 
Their salaries are in integer lakhs.
Therefore, a can draw Rs.1 lakh and b can draw Rs.3 lakhs or a and b can both draw Rs. 2 lakhs each.
However, there is only one mode. So, a and b cannot draw Rs.2 lakhs each.
So, a draws Rs.1 lakh (the least salary) and e draws Rs.8 lakhs (the highest salary).
So, a + e = Rs.9 lakhs

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IMI New Delhi
Admissions open for PGDM / PGDM(HRM) / PGDM(B&FS) at IMI New Delhi. Last date to apply is Dec 3rd, 2018.
Birla Institute of Management Technology (BIMTECH)
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