Question : Sudesh is the owner of a multipurpose shop. For a specific month, his profits are detailed below.
| Category | Profit earned in INR |
| Groceries | 50,000 |
| Cosmetics | 20,000 |
| Ladies' dresses | 10,000 |
To estimate the expected profit for the next month, he assigns the weights of 6, 5, and 8 to the different categories in the same order. What will be the weighted average of his profits?
Option 1: INR 25,265.18 (nearly)
Option 2: INR 24,863.16 (nearly)
Option 3: INR 25,163.16 (nearly)
Option 4: INR 25,263.16 (nearly)
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Correct Answer: INR 25,263.16 (nearly)
Solution :
By using the table:
Total weights = 6 + 5 + 8 = 19
Profit earned on groceries in weight = 6 × 50000 = 300000
Profit earned on cosmetics in weight = 5 × 20000 = 100000
Profit earned on ladies' dresses in weight = 8 × 10000 = 80000
Total profit = 480000
Weighted average = $\frac{\text{Total Profit}}{\text{Total Weights}}$
= $\frac{480000}{19}$
= INR 25263.16
Hence, the correct answer is INR 25263.16 (nearly).
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