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Solve the following: Calculate Quantity Index number from the given data: Commodity P Q R S T Base year quantities 170 150 100 195 205 Current year quantities 90 70 75 150 95 - Economics

Numerical

Solve the following:

Calculate Quantity Index number from the given data:

Commodity P Q R S T
Base year quantities 170 150 100 195 205
Current year quantities 90 70 75 150 95
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Solution

Commodity Base year quantities
q0
Current year quantities
q1
P 170 90
Q 150 70
R 100 75
S 195 150
T 205 95
Total ∑q0 = 820  ∑q1 = 480

Quantity Index Number = `(∑"q"_1)/(∑"q"_0)xx100`

= `480/820xx100`

= 58.54

Concept: Construction of Index Numbers
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 6 Index Numbers
Exercise | Q 3. (2) | Page 60
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