Mumbai gets wheat from different regions. If it gets 1200 kg from Nasik at the rate of ₹ 30 per kg, 1500 kg from Ratnagiri at the rate of ₹ 25 per kg and 2000 kg from Kolhapur at the rate of ₹ 32 per kg, find the average cost of wheat procured by Mumbai.
Correct Answer: ₹ 29.25 per kg
Explanation:
Average cost =( w1x1 + w2x2 + w3x3 ) / (w1 +w2 +w3) = ( 1200 x 30 +1500 x 25 + 2000 x 32) / ( 1200 + 1500 + 2000 )
= 137500 / 4700
= ₹ 29.25 per kg
