Correct Answer - Option 1 : Rs. 9.62
Given:
A car owner buys petrol at Rs.9.50, Rs. 9 and Rs. 10.50 per liters for three successive years
Calculation
Total quantity consumed in the 3 years = 8000/9.50 + 8000/9 + 8000/ 10.50
= 842.10 + 888.88 + 761.90
= 2492.88 liters
Total amount spends = 3 × 8000 = 24,000
Then,
Average cost price = 24000/2492.88
= Rs. 9.62
Hence, Average cost price = Rs. 9.62