Suppose milk is being sold at the rates of 18, 20, 22 and 25 rupees per litre in four different months. Assuming that equal amounts of money are spent on milk by a family in the four months, using a suitable measure, determine the average price in rupees per litre.
Answers
Answer:
=(18+20 +22+25)/4 =21.25
is the average rupees per litre
About 20.94 is the average price in rupees per litre
Given:
Milk is being sold at the rates of 18, 20, 22 and 25 rupees per litre in four different months
Equal amounts of money are spent on milk by a family in the four months
To Find:
Determine the average price in rupees per litre.
Total Cost = Cost per liter x Qty in Liter
Solution:
Median, mean, and mode are the measures of central tendency
Step 1:
Assume that Amount Spent each month is Rs X
Hence Total amount spend in 4 months = Rs 4X
Step 2:
Calculate the Amount of Milk Consumed each month in liter
X/18 , X /20 , X/22 , X/25
Step 3:
Calculate the total Amount of Milk Consumed in 4 months in liter
X/18 + X /20 + X/22 + X/25
= (X/9900)(550 + 495 + 450 + 396)
= (X/9900)(1891)
Step 4:
Calculate the total Amount of Milk Consumed in 4 months in liter
X/18 + X /20 + X/22 + X/25
= (X/9900)(550 + 495 + 450 + 396)
= (X/9900)(1891)
= 1891X/9900
Step 5:
Calculate average price in rupees per litre
= 4X/(1891X/9900)
= 39600/1891
≈ 20.94
About 20.94 is the average price in rupees per litre