a housewife uses 10g of wheat, 20 kg of fuel, 5kg of sugar and 2 kg of oil. prices of these items are respectively rs. 1.50 ,50 paise , rs. 2.80 and rs. 10. taking quantites used as weights find out the weighted arithmetic average of these prices.
Items | Quantity (Weight) | Price (X) | WX |
Wheat | 10 | 1.50 | 15 |
Fuel | 20 | 0.50 | 10 |
Sugar | 5 | 2.80 | 14 |
Oil | 2 | 10 | 20 |
| ∑W = 37 |
| ∑WX = 59 |
A.M. = ∑WX/ ∑W = 59/37 = 1.59
Thus, the mean price is Rs 1.59
** Note that we have assumed the quantity of wheat as 10 Kg instead of 10 g