Question
Download Solution PDFA packet has to consist of three types of jellies – orange, mango and strawberry. The price per unit of orange, mango and strawberry jelly is ₹2.00, ₹3.00 and ₹3.50, respectively. In a packet, there are 80 orange jellies, 50 mango jellies and 120 strawberry jellies. What is the average cost (in ₹) of a jelly in a mixed packet?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Number of orange jellies = 80
Number of mango jellies = 50
Number of strawberry jellies = 120
Price per orange jelly = ₹2.00
Price per mango jelly = ₹3.00
Price per strawberry jelly = ₹3.50
Formula used:
Average cost = Total cost / Total number of jellies
Calculation:
Total cost of orange jellies = 80 × 2.00
Total cost of mango jellies = 50 × 3.00
Total cost of strawberry jellies = 120 × 3.50
Total number of jellies = 80 + 50 + 120
⇒ Total cost of orange jellies = ₹160
⇒ Total cost of mango jellies = ₹150
⇒ Total cost of strawberry jellies = ₹420
⇒ Total cost = 160 + 150 + 420 = ₹730
⇒ Total number of jellies = 80 + 50 + 120 = 250
⇒ Average cost = 730 / 250
⇒ Average cost = 2.92
∴ The correct answer is 2.92
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