Question

The loans sanctioned by a bank for construction of farm ponds are shown in the following table. Find the mean of the loans.

Loan (Thousand Rupees)	40 - 50	50 - 60	60 - 70	70 - 80	80 - 90
No. of farm ponds	13	20	24	36	7

Answer 1

Class (Loan in thousand rupees)	Class Mark xi	Frequency (Number of farm ponds) fi	Class mark × Frequency xifi
40 - 50	45	13	585
50 - 60	55	20	1100
60 - 70	65	24	1560
70 - 80	75	36	2700
80 - 90	85	7	595
		\[\sum_{} f_i = 100\]	\[\sum_{} x_i f_i = 6540\]

Mean = \[\frac{\sum_{} x_i f_i}{\sum_{} f_i}\]
\[= \frac{6540}{100}\]
 = 65 . 4 thousand rupees
\[ = 65400\]
Hence, the mean of the loans is Rs 65400.