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Home Questions 4R9Z45ZDAZ
Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Find out price index for the year 2017 with 2015 as base year:

Commodity

Price (₹) 2015

Price (₹) 2017

A

10

12

B

12

15

C

8

10

D

6

8

E

10

14
Options:

115.45

121.30

128.26

132.15

Correct Answer:

128.26

Explanation:

The correct answer is Option (3) → 128.26

Price Index = $P_{01}=\frac{​∑P_1}{∑P_0} ​​×100$

where
$P_0$​ = prices in base year (2015)
$P_1$​ = prices in current year (2017)

Commodity

$P_0$​

$P_1$​

A

10

12

B

12

15

C

8

10

D

6

8

E

10

14

Total

$\sum P_0 = 46$

$\sum P_1 = 59$

$P_{01} = \frac{\sum P_1}{\sum P_0} \times 100 = \frac{59}{46} \times 100 = 128.26$

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