Indian Institute of Foreign Trade 2008 Solved Paper

Question : 82 of 150

Marks: +1, -0

What is the approximate average quantity sold during the period 2000-2010?

64 units
70 units
77 units
81 units

Solution:

Let's calculate No of Units as Revenue / Unit price.
Per Unit cost as (Revenue - Profit ) / No of Units.
In that way, we calculate the table as follows.

YEAR	UNIT PRICE	REVENUE	PROFIT	NO OF UNITS	PER UNIT COST
2000	10	700	0	70	10
2001	14	1400	100	100	13
2002	12	1200	300	100	9
2003	12	900	150	75	10
2004	11	1100	0	100	11
2005	8	400	150	50	5
2006	10	200	100	20	5
2007	14	700	200	50	10
2008	10	600	0	60	10
2009	10	800	400	80	5
2010	15	900	300	60	10

Average quantity sold =Sum of the quantities sold / No of years.

=70+100+100+75+100+50+20+50+60+80+60/11

=69.5

=Approx 70
Hence B is the correct answer.

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