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APPLIED MATHEMATICS
TERM-1 PROJECT

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Record of income
and spending of a
person in the
year 2020
OBJECTIVE
This project aims at developing an
understanding of statistics in everyday
life.

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ACKNOWLEDGEMENT

WE WOULD LIKE TO EXPRESS OUR GRATITUDE TO MS. ASHA SHARMA FOR GIVING US THIS
WONDERFUL OPPORTUNITY TO COLLABORATE ON A PROJECT TOGETHER. THE THEME FOR THE
SAME BEING ‘DESCRIPTIVE STATISTICS IN EVERYDAY LIFE’.
THIS PROJECT HELPED US A LOT IN GAINING ADEQUATE KNOWLEDGE ABOUT THE TOPIC. WE HAVE
COMPLETED THIS PROJECT AFTER PROPER ANALYSIS AND RESEARCH.
WE WOULD ALSO LIKE TO THANK OUR PARENTS AND GUARDIANS FOR HELPING US FINISH THE
PROJECT IN THE PRESCRIBED TIME.
WE DID THIS PROJECT NOT ONLY FOR GRADES BUT ALSO TO GAIN KNOWLEDGE.
THANK YOU AGAIN TO ALL OUR HELPERS.

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• INTRODUCTION
• SOURCES OF DATA/ DATA COLLECTION
• ANALYSIS OF DATA
• BIBLIOGRAPHY

TABLE OF
CONTENTS

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• Statistics is the practice that concerns the collection,
organization, analysis, interpretation, and presentation of data.
• We aim to show the application and importance of statistics in
daily life.

INTRODUCTION

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SOURCES OF
• We searched online and gathered some of the basic categories of
home expenses.
• Thereafter, we asked our parents about the average amount of
spending per month.
• We then entered the amounts in our data table which are ranging
around the average or approximate expenses.
• We formulated a data table and charts for the income and spending
of an imaginary person, Aditya, in the year 2020.*

DATA/ DATA
COLLECTION
*We do not intend to refer to a specific person/thing/property. This
data is completely fictitious and imaginary. Any coincidence is
requested to be ignored.

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DATA
ADITYA'S INCOME AND SPENDING OF THE YEAR 2020

FOOD AND
MONTHLY KITCHEN MEDICAL TRANSPORT AND INSURANCE
S.NO. MONTH INCOME RENT EXPENSES ELECTRICITY EXPENSES FUEL EXPENSES MISCELLANEOUS EXPENSES OUTINGS PREMIUM SAVINGS

1 January 400000 30000 25000 6800 1000 20000 150000 10000 157200

2 February 400000 30000 23000 7000 1700 19000 120000 12000 187300

3 March 400000 30000 24300 7100 750 21000 140000 15000 161850

4 April 400000 30000 22000 7250 600 20500 170000 12000 137650

5 May 400000 30000 20200 7200 650 21500 200000 12500 107950

6 June 400000 30000 19000 13000 800 19800 180000 7000 70000 60400

7 July 400000 30000 26700 11000 800 21400 130000 13500 166600

8 August 400000 30000 25300 7450 670 21000 145000 7900 162680

9 September 400000 30000 22400 7650 950 20800 163000 9000 146200

10 October 400000 30000 23650 7430 820 21300 155000 10000 151800

11 November 400000 30000 25200 6900 670 20500 149000 11200 156530

12 December 400000 30000 15000 6700 1500 21500 128000 9000 70000 118300
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 450000
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350000

300000

250000

200000

150000

100000

50000

0
January February March April May June July August September October November December
MONTHLY INCOME RENT FOOD AND KITCHEN EXPENSES
ELECTRICITY MEDICAL EXPENSES TRANSPORT AND FUEL EXPENSES
MISCELLANEOUS EXPENSES OUTINGS INSURANCE PREMIUM
SAVINGS

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100%
BAR GRAPH
90%

80%

70%

60%

50%

40%

30%

20%

10%

0%
January February March April May June July August September October November December
MONTHLY INCOME RENT FOOD AND KITCHEN EXPENSES
ELECTRICITY MEDICAL EXPENSES TRANSPORT AND FUEL EXPENSES
MISCELLANEOUS EXPENSES OUTINGS INSURANCE PREMIUM
SAVINGS 9
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450000

400000

LINE
350000

300000

250000

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GRAPH
150000

100000

50000

0
January February March April May June July August September October November December
MONTHLY INCOME RENT FOOD AND KITCHEN EXPENSES
ELECTRICITY MEDICAL EXPENSES TRANSPORT AND FUEL EXPENSES
MISCELLANEOUS EXPENSES OUTINGS INSURANCE PREMIUM
SAVINGS 10
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• Aditya has a monthly income of Rs. 4,00,000.
• He pays rent at Rs. 30,000 per month.
• Aditya’s average food and kitchen expenses for the year 2020 are
Rs. 22,645.
• The average electricity expenses for the year 2020 are Rs. 8000
approximately.
• Average medical expenses over the year were Rs. 910 approx.

DATA ANALYSIS • Average transport expenses were Rs. 20,700.

• Aditya’s average miscellaneous expenses were Rs. 1,52,500.
• Aditya’s average spending on outings over the year were Rs.
11,000 approx.
• Aditya paid insurance premium of Rs. 70,000 twice in the year,
in June as well as in December.
• Aditya’s average savings were Rs. 1,43,000.

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“ BE ABLE TO ANALYZE
STATISTICS, WHICH CAN BE
USED TO SUPPORT ALMOST
ANY ARGUMENT.

-MARILYN VOS SAVANT

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• https://www.nerdwallet.com/article/finance/budget-checklist-
monthly-budget
• https://www.investopedia.com/terms/h/householdexpenses.asp
• https://www.linkedin.com/pulse/importance-statistics-our-daily-
life-bilal-
hassan#:~:text=It%20keeps%20us%20informed%20about,and%20sta
tics%20concepts%20are%20necessary

BIBLIOGRAPHY

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THANK YOU!

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