Question

A car owner buys petrol at Rs. 57.50, RS. 58, and Rs. 58.50 per liter for three successive years. What, approximately, is
the average cost per liter of petrol if he spends Rs. 40,000 each year?​

Answer 1

Answer:

Total quantity of petrol consumed in 3 years =( 7.50/4000 + 8/4000 + 8.50/4000 )litres =4000

(2/15 + 1/8 + 2/17)litres =( 51/7670)litres

Total amount spent =Rs.(3×4000)=Rs.12000.

∴ Average cost =Rs.( 76700/12000×51 )=Rs.

767/6120

=Rs.7.98

Step-by-step explanation:

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Answer 2

The average cost per liter of petrol is Rs. 58.

Given: Petrol buying rates Rs. (57.50, 58, and 58.50)

To find: Average cost per liter for petrol

Step-by-step explanation:

• The average cost or unit cost is equal to the total cost (TC) divided by the number of units of a good produced. The average cost has a big influence on how much corporations charge for their products.
• The size of the market and how their competitors choose to operate are directly linked to the sales of specific commodities by businesses.

Step 1: To calculate how much quantity of petrol was consumed in three years:

⇒ $(\frac{40000}{57.5}+\frac{40000}{58}+\frac{40000}{58.5})$ liters

⇒ $(695.65+689.65+683.76)$ liters

∴ $2069.06$ liters

Step 2: Total amount spent:

⇒ $(3\times40000)=120000$

Step 3: Average cost calculation:

⇒ Rs. $\frac{120000}{2069.06}$

∴ Rs. $57.99$ ≅ Rs. $58$

Hence, the average cost is Rs. $58$.