Vishnu purchased 8000 products for ₹ 1.2 each, another 3000 products for ₹ 1.5 each and another 8000 products for ₹ 1.4 each. Find the average cost per product. (Round the answer to two decimal places.)

Correct option is D

Given:

8000 products at ₹1.2 each.

3000 products at ₹1.5 each.

8000 products at ₹1.4 each.

Formula Used:

The average cost per product is found using the weighted average formula:

Average Cost  = $$\frac{\sum (\text{Quantity} \times \text{Cost per unit})}{\sum \text{Quantity}} ​$$​​

Solution:

Average Cost = $$\frac{(8000 \times 1.2) + (3000 \times 1.5) + (8000 \times 1.4)}{8000 + 3000 + 8000}$$​​

= $$\frac{(9600) + (4500 ) + (11200)}{8000 + 3000 + 8000}$$​​

= $$\frac{25300}{19000}$$​​

=1.33(approx.)