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 |
Answer & explanation
Correct answer: option 3
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 |
$\sum P_0 = 46$ |
$\sum P_1 = 59$ |
$P_{01} = \frac{\sum P_1}{\sum P_0} \times 100 = \frac{59}{46} \times 100 = 128.26$