Which index number is computed to compar

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Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Which index number is computed to compare prices of petrol?

Options:

Value Ratio

Price Index

Volume Index

Aggregate Index

Correct Answer:

Price Index

Explanation:

Petrol comparison involves comparing changes in its price over time.

An index constructed specifically to measure price changes is the Price Index.

The correct answer is: Price Index.