Extract from Android Developer Guide link above:
320dp: a typical phone screen (240x320 ldpi, 320x480 mdpi, 480x800 hdpi, etc).
480dp: a tweener tablet like the Streak (480x800 mdpi).
600dp: a 7” tablet (600x1024 mdpi).
720dp: a 10” tablet (720x1280 mdpi, 800x1280 mdpi, etc)
So i got graphics(images) at resolution 320 pixels per inch from designer in these dimension only
480x800 hdpi
720x1280 mdpi
800x1280 mdpi
I am confused which size of images should be placed in mdpi folder, hdpi folder and xhdpi folder. I want to make one application which can work on most android phones and tablets ?