Exercises in Retail Maths 3: Calculating Average Selling Price

 Example:  I have 3 categories of fashion: Dresses, Kurtas and Bottoms. Last day I sold 20 Dresses at an average Selling price of 100 Rs, 10 Kurtas at an average selling price of 90 Rs. and 5 Bottoms at an average Selling price of 60 Rs. What is my overall average Selling Price.

In such cases, we use the concept of weighted average. My Weighted average is 

(No of Items in Category 1 x ASP of Category 1 + No of Items in Category 2 x ASP of Category 2 +No of Items in Category 3 x ASP of Category 3 )/ ( Total Number of Items in the Category)

\(\small\frac{\text{No of  Items in Category 1} \times\text{ ASP of Category1} + \text{No of  Items in Category 2} \times\text{ ASP of Category2} +\text{No of  Items in Category 3} \times\text{ ASP of Category 3} }{\text{Total Number of Items in all the categories}}\) 

=\(\large\frac{\text{20} \times\text{ 100} + \text{10} \times\text{ 90} +\text{5} \times\text{ 60} }{\text{20+10+5}}\) 

=\(\large\frac{\text{2000} + \text{900} +\text{300} }{\text{35}}\) = 91.42 Rupees

Exercises

Exercise 1

You have 3 categories of electronics: Phones, Laptops, and Tablets. Last day you sold 15 Phones at an average selling price of 15,000 Rs, 8 Laptops at an average selling price of 50,000 Rs, and 12 Tablets at an average selling price of 20,000 Rs. What is your overall average selling price?

Exercise 2

You have 3 categories of groceries: Fruits, Vegetables, and Dairy. Last day you sold 25 kg of Fruits at an average selling price of 80 Rs/kg, 30 kg of Vegetables at an average selling price of 50 Rs/kg, and 20 liters of Dairy at an average selling price of 60 Rs/liter. What is your overall average selling price?

Exercise 3

You have 3 categories of books: Fiction, Non-Fiction, and Comics. Last day you sold 40 Fiction books at an average selling price of 300 Rs, 25 Non-Fiction books at an average selling price of 400 Rs, and 35 Comics at an average selling price of 150 Rs. What is your overall average selling price?

Exercise 4

You have 3 categories of furniture: Chairs, Tables, and Sofas. Last day you sold 10 Chairs at an average selling price of 2,000 Rs, 5 Tables at an average selling price of 5,000 Rs, and 3 Sofas at an average selling price of 10,000 Rs. What is your overall average selling price?

Exercise 5

You have 3 categories of cosmetics: Lipsticks, Foundations, and Mascaras. Last day you sold 50 Lipsticks at an average selling price of 200 Rs, 30 Foundations at an average selling price of 500 Rs, and 40 Mascaras at an average selling price of 150 Rs. What is your overall average selling price?

Exercise 6

You have 3 categories of toys: Dolls, Action Figures, and Board Games. Last day you sold 25 Dolls at an average selling price of 300 Rs, 15 Action Figures at an average selling price of 400 Rs, and 10 Board Games at an average selling price of 600 Rs. What is your overall average selling price?

Exercise 7

You have 3 categories of footwear: Sneakers, Sandals, and Boots. Last day you sold 20 Sneakers at an average selling price of 1,500 Rs, 15 Sandals at an average selling price of 800 Rs, and 10 Boots at an average selling price of 2,500 Rs. What is your overall average selling price?

Exercise 8

You have 3 categories of kitchen appliances: Mixers, Toasters, and Blenders. Last day you sold 10 Mixers at an average selling price of 3,000 Rs, 8 Toasters at an average selling price of 2,000 Rs, and 6 Blenders at an average selling price of 4,000 Rs. What is your overall average selling price?

Exercise 9

You have 3 categories of stationery: Pens, Notebooks, and Markers. Last day you sold 100 Pens at an average selling price of 20 Rs, 50 Notebooks at an average selling price of 100 Rs, and 30 Markers at an average selling price of 50 Rs. What is your overall average selling price?

Exercise 10

You have 3 categories of home decor: Curtains, Rugs, and Lamps. Last day you sold 12 Curtains at an average selling price of 1,000 Rs, 8 Rugs at an average selling price of 3,000 Rs, and 5 Lamps at an average selling price of 1,500 Rs. What is your overall average selling price?