The price relatives and weights of a set of commodities are given as :
If the sum of weights is 30 and the index for the set is 144, then the values of x and y are : |
$x=6, y = 8 $ $x=8, y = 4 $ $x=6, y = 6$ $x=5, y = 10 $ |
$x=6, y = 6$ |
The correct answer is Option (3) → $x=6, y = 6$ Weighted Price Index, $I=\frac{∑(P_r×W)}{∑W}$ $⇒144=\frac{(150x+130(3y)+180y)}{30}$ $⇒150x+570y=4320$ ....(1) and, $x+4y=30$ ....(2) from (1) and (2) $150(30-4y)+570y=4320$ $180=30y$ $y=6$ and $x=6$ |