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 = $\frac{\sum _{}{x}_i{f}_i}{\sum _{}{f}_i}$
​$$\begin{gathered} =\frac{6540}{100} \\ =65.4\mathrm{thousand}\mathrm{rupees} \\ =65400 \end{gathered}$$
Hence, the mean of the loans is Rs 65400.