Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

For the year 2017, with 2015 as base year, the quantity index (upto two decimal) is equal to:

 Commodity 

 Quantity 2015 

 Quantity 2017 

P

60

65

Q

200

210

R

50

50

S

40

35

T

20

26

Options:

105.71

104.32

106.61

100.52

Correct Answer:

104.32

Explanation:

The correct answer is Option (2) → 104.32

$\text{Quantity index} = \frac{\sum q_1}{\sum q_0} \times 100$

$\sum q_0 = 60+200+50+40+20 = 370$

$\sum q_1 = 65+210+50+35+26 = 386$

$\text{Index} = \frac{386}{370} \times 100 = 104.32$

$\text{Quantity index} = 104.32$