Solution:
Given
Average price of three items = Rs.14265
Ratio of their price = 7 ∶ 9 ∶ 11
Formula used
Average = total sum of items/number of items
Calculation
Let items be x1, x2, x3
Price of item be x
Price of x1 article = 7x
Price of x2 article = 9x
Price of x3 article = 11x
Total sum of items = Average × number of items
⇒ 7x + 9x + 11x = 14265 × 3
⇒ 27x = 42795
⇒ x = 1585
The price of costliest item = 1585 × 11
⇒ 17,435
∴ The price of costliest item is Rs. 17,435.
Alternate Method:
14,265 × 3 = 27P
1P = 1585
11P = 17435
∴ The price of costliest item is Rs. 17,435.