Given that $∑p_0q_0=800, ∑p_0q_1=1500,∑p_1q_0=955$ and $∑p_1q_1=1300,$ where subscripts 0 and 1 are used for base years and current year respectively. The Laspeyre's index number is :
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 119.38
The Laspeyres's Index Number is,
$L=\left(\frac{∑p_1q_0}{∑p_0q_0}\right)×100$
$=\frac{955}{800}×100=119.38$