The table given below shows the cost price and selling of four different articles.
|
Articles |
Cost price |
Selling price |
|
J |
650 |
750 |
|
K |
370 |
450 |
|
L |
450 |
650 |
|
M |
590 |
650 |
What is the difference between the average selling price and average cost price of all the articles?
Answer & explanation
Correct answer: option 1
Average selling price = \(\frac{ 750 + 450 + 650 + 650 }{4}\)
= \(\frac{ 2500 }{4}\) = 625
Average Cost price = \(\frac{650 + 370 + 450 + 590 }{4}\)
= \(\frac{ 2060 }{4}\) = 515
Difference = 625 - 515 = 110