A shopkeeper purchases 20000 units of a product at ₹1 each, 15000 units at ₹1.15 each and 5000 units at ₹2 each. What is the weighted average price of one unit? (Correct to two decimal places)
Answer & explanation
Correct answer: option 3
Sum of price of all units = 20000 × 1 + 15000 × 1.15 + 5000× 2 = 20000 + 17250 + 10000 = 52500
Average of price = \(\frac{47250}{40000}\) = 1.18