A shopkeeper purchases 20000 units of a product at ₹1 each, 15000 units at ₹1.15 each and 5000 units at ₹2 each. What is the weighted average price of one unit?
(Correct to two decimal places)
Explanation:
Weighted average price = Total costTotal quantity = 20,000×1+15,000×1.15+5,000×220,000+15,000+5,000 = 47,25040,000 = Rs. 1.18
Hence, option (d).