The average price of three items of furniture is ₹5045. If their prices are in the ratio 3:5:7, the price of the costliest item (in ₹) is

Correct option is A

Given:
Average price = ₹5045
Ratio of prices = 3 : 5 : 7
Formula Used:
Total Price = Average $$\times$$ Number of items
Individual share = $$\frac{\text{Individual Ratio}}{\text{Sum of Ratios}} \times \text{Total Value}$$​​
Solution:
Total Price = 5045$$\times$$​ 3 = ₹15,135.
Sum of ratios = 3 + 5 + 7 = 15.
Costliest item ratio = 7.
Price of costliest item =  $$\frac{7}{15} \times 15135$$​​
Price = 7 $$\times$$​1009 = ₹7,063
So the correct answer is (a)