The average daily price of share of a company from Monday to Friday was Rs 130. If the highest and lowest price during the week were Rs 200 and Rs 100 respectively, find average daily price when the highest and lowest price are not included. please explain it fully
Answers
When the highest price Rs. 200 & the lowest price Rs. 100 are not included then the average daily price is Rs. 116.67.
Explanation:
The average daily price of shares of a company from Monday to Friday = Rs. 130
No. of days from Monday to Friday = 5 days
∴ The total price of the shares from Monday to Friday = 130 × 5 = Rs. 650
It is given that during the week,
The highest price of the share = Rs. 200
The lowest price of the share = Rs. 100
Also, when the price of the lowest and highest shares are being removed, we are left with the total price of the shares for 3 days which is,
= 650 – (200 + 100)
= 650 – 300
= Rs. 350
Thus,
The average daily price of shares for 3 days (when the highest and lowest price are not included) is,
= 350/3
= Rs. 116.67
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