Question : If the average price of three chairs is Rs. 14,014 and their prices are in the ratio of 3 : 4 : 7, then the highest price (in Rs.) of a chair is:
Option 1: 15015
Option 2: 3003
Option 3: 9009
Option 4: 21021
Correct Answer: 21021
Solution :
The average price of the three chairs is the total price divided by the number of chairs.
The total price of the three chairs = 14,014 × 3 = Rs. 42,042
The prices of the chairs are in the ratio 3 : 4 : 7.
The sum of the ratios = 3 + 4 + 7 = 14
Price of each chair = $\frac{\text{Individual ratio}}{\text{Sum of the ratios}} \times \text{Total price}$
Therefore, the highest price of a chair = 42,042 × $\frac{7}{14}$ = Rs. 21,021
Hence, the correct answer is 21,021.
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