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Home Questions UNPFJ2XTU7
Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Compute Laspeyre's Ideal Index No.

Commodities

Price (₹)

Value

Price (₹)

Value

 

2008

2010

A

5

40

8

40

B

8

64

12

168

C

10

120

22

132

D

12

144

26

208

E

16

288

20

300
Options:

194.51

172.45

163.04

167.07

Correct Answer:

194.51

Explanation:

The correct answer is Option (1) → 194.51

For calculating base period and current period quantity we divide value by price.

 Commodity

$p_0$​

$q_0$​

$p_1$​

$q_1$​

$p_1​q_0$​

$p_0​q_0$​

$p_1​q_1$​

$p_0​q_1$​

A

5

8

8

5

64

40

40

25

B

8

8

12

14

96

64

168

112

C

10

12

22

6

264

120

132

60

D

12

12

26

8

312

144

208

96

E

16

18

30

10

540

288

300

160

 

 

 

 

 

$\sum p_1​q_0= 1276$

$\sum p_0​q_0= 656$

$\sum p_1​q_1= 848$

$\sum p_0​q_1= 453$

Laspeyre's Method:

$P_{01} = \frac{\sum p_1q_0}{\sum p_0q_0} \times 100 $

$P_{01} = \frac{1276}{656} \times 100 = 194.51$

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