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Solve the following problem : If Laspeyre’s and Dorbish’s Price Index Numbers are 150.2 and 152.8 respectively, find Paasche’s Price Index Number. - Mathematics and Statistics

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Sum

Solve the following problem :

If Laspeyre’s and Dorbish’s Price Index Numbers are 150.2 and 152.8 respectively, find Paasche’s Price Index Number.

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Solution

Given, P01(L) = 150.2, P01(D-B) = 152.8
Dorbish-Bowley’s Price Index Number:

P01(D-B) = `("P"_01("L") + "P"_01("P"))/(2)`

∴ 152.8 = `(150.2 + "P"_01("P"))/(2)`

∴ 305.6 = 150.2 6 + P01(P)
∴ P01(P) = 305.6 – 150.2 = 155.4

Concept: Construction of Index Numbers - Weighted Aggregate Method
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APPEARS IN

Balbharati Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board
Chapter 5 Index Numbers
Miscellaneous Exercise 5 | Q 4.14 | Page 93
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