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

Answer

The mean of the loans is Rs. `65,400`.

Explanation

Let us use 'Step Deviation Method ' .
Take assumed mean ` A = 65 , g = 10`.

`baru = (Sigma f_(i)u_(i))/(Sigmaf_(i)) = 4/100 = 0.04`
Mean `barX = A + baru g`
` = 65 + 0.04 xx 10`
` = 65 + 0.4 = 65.4` (Thousands)
` = 65.4 xx 1000 = 65400`