Question

Find the Price Index Number using the Simple Aggregate Method in the following example.

Assume 2000 to be base year in the following problem.

Fruit	Unit	Price (in ₹)   in 2000	Price (in ₹) for 2007
Mango	doz	250	300
Banana	doz	12	24
Apple	kg	80	110
Peach	kg	75	90
Orange	doz	36	65
Sweet Lime	doz	30	45

Answer 1

Fruit	Unit	Price in 2000 (Base year) p0	Price in 2007 (current year) p1
Mango	doz	250	300
Banana	doz	12	24
Apple	kg	80	110
Peach	kg	75	90
Orange	doz	36	65
Sweet Lime	doz	30	45
Total		483	634

From the table, ∑ p₀ = 483, ∑ p₁ = 634

Price Index Number (P₀₁) = `(sum "p"_1)/(sum "p"_0) xx 100`

`= 634/483 xx 100`

= 131.26