CUET Preparation Today
CUET
-- Applied Mathematics - Section B2
Index Numbers and Time Based Data
Find the consumer price index for 2014 on the base of 2008, from the following data. Using the method of weighted relatives.
155
158
160
164
The correct answer is option (2) : 158
Price relative
$I=\frac{p_1}{p_0}×100$
140
200
80
4200
4000
1600
2000
400
$∑Iw= 15800$
∴Index number $=\frac{∑Iw}{∑w}=\frac{15800}{100}= 158$