Correct Answer - Option 1 : ₹ 48.65
Given:
Price of petrol for 3 consecutive years = Rs. 40, Rs. 50 and Rs. 60 per litres
Money spent on petrol each year = Rs. 30,000
Formula used:
Average = (Sum of values)/(Number of values)
Calculation:
Total amount spent = 30,000 × 3 = Rs. 90,000
Total petrol bought in first year = 30,000/40 = 750 litres
Total petrol bought in second year = 30,000/50 = 600 litres
Total petrol bought in third year = 30,000/60 = 500 litres
Total petrol bought in 3 years = 750 + 600 + 500 = 1850 litres
Total amount spent = 30,000 × 3 = Rs. 90,000
Average cost of petrol = 90,000/1850
⇒ Rs. 48.65
∴ The average cost of a litre of petrol is Rs. 48.65