Maharashtra State BoardHSC Commerce 12th Board Exam
Advertisement Remove all ads

Find the Price Index Number using Simple Aggregate Method in the following example. Use 1995 as base year in the following problem. - Mathematics and Statistics

Advertisement Remove all ads
Advertisement Remove all ads
Sum

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

Use 1995 as base year in the following problem.

Commodity P Q R S T
Price (in ₹) in 1995 15 20 24 22 28
Price (in ₹) in 2000 27 38 32 40 45
Advertisement Remove all ads

Solution

Commodity Price in 1995
(Base year) p0
Price in 2000
(Current year)p1
P 15 27
Q 20 38
R 24 32
S 22 40
T 28 45
Total 109 180

From the table, ∑ p0 = 109, ∑ p1 = 182

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

`= 182/109 xx 100`

= 166.97

Concept: Construction of Index Numbers
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×