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Question
Given that Laspeyre’s and Dorbish-Bowley’s Price Index Numbers are 160.32 and 164.18 respectively, find Paasche’s Price Index Number.
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Solution
Given, P01 (L) = 160.32, P01 (D-B) = 164.18
`"P"_01 ("D - B") = ("P"_01("L") + "P"_01("P"))/2`
∴ `164.18 = (160.32 + "P"_01("P"))/2`
∴ 328.36 = 160.32 + P01 (P)
∴ P01 (P) = 328.36 - 160.32
∴ P01 (P) = 168.04
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