Key Points
Key Points: Price Index Number
- Shows change in prices
- Formula: (Σp₁ / Σp₀) × 100
- Σp₀ = Base year total prices
- Σp₁ = Current year total prices
- Example: 300 / 220 × 100 = 136.36
- Prices increased by 36.36%
Concepts [5]
- Price Index Number
- Simple Aggregate Method
- Weighted Aggregate Method
- Simple Average of Price Relatives
- Weighted Average of Price Relatives
