A shopkeeper purchases 20000 units of a product at ₹1 each, 15000 units at ₹1.15 each and 5000 units at ₹2 each. What is the weighted average price of one unit? (Correct to two decimal places)

Question

Question

This question was previously asked in

SSC CHSL 2021 (Held On : 10 June 2022 Shift 3)

Answer 1

Given:

20000 units at Rs. 1 each,

15000 units at Rs. 1.15 each

And 5000 units at Rs. 2 each.

Concept used:

Weighted average price = \(\frac{\sum rate × No. \space of\space items}{\sum No.\space of \space items}\)

Calculations:

Weighted average

= \(\frac{\sum rate × No. \space of\space items}{\sum No.\space of \space items}\)

= \(\frac{(20000×1)+(15000×1.15)+(5000×2)}{20000+15000+5000}\)

= \(\frac{(20000+17250+10000)}{40000}\)

= \(\frac{47250}{40000}\)

= Rs. 1.18125 ≈ Rs. 1.18

Hence, The Required weighted average price is Rs. 1.18.