Maharashtra State BoardHSC Commerce 12th Board Exam
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Find the Price Index Number using Simple Aggregate Method in the following example. - Mathematics and Statistics

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Sum

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

Commodity Unit Base Year Price (in ₹) Current Year Price
(in ₹)
Wheat kg 28 36
Rice kg 40 56
Milk litre 35 45
Clothing meter 82 104
Fuel litre 58 72
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Solution

Commodity Unit Base Year Price (in ₹) Current Year Price
(in ₹)
Wheat kg 28 36
Rice kg 40 56
Milk litre 35 45
Clothing meter 82 104
Fuel litre 58 72
Total 243 313

From the table, ∑ p0 = 243, ∑ p1 = 313

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

`= 313/243 xx 100`

= 128.81

Concept: Construction of Index Numbers
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