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Home Questions H7HF29NTN4
Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Compute the weighted aggregative price index number for year 2008 with year 2000 as base year using Fisher's ideal index number from the following data.


Commodity		 Prices (₹) Quantities
In 2000 In 2008 In 2000 In 2008
A 38 35 6 7
B 12 18 7 10
C 10 15 10 15
D 25 30 12 16
E 300 33 8 10
Options:

117.36

115.36

112.36

120.36

Correct Answer:

117.36

Explanation:

The correct answer is option (1) : 117.36


Commodity
Price (₹)
Quantity		 $p_0q_1$ $p_0q_1$ $p_1q_0$ $p_1q_1$
$p_0$ $p_1$ $q_0$ $q_1$
A 38 35 6 7 228 266 210 245
B 12 18 7 10 84 120 126 180
C 10 15 10 15 100 150 150 225
D 25 30 18 16 300 400 360 480
E 30 33 8 10 240 300 264 330
Total         952 1236 1110 1460

 

Fisher's ideal Index number $=\sqrt{\frac{∑p_1q_0}{∑p_0q_0}×\frac{∑p_1q_1}{∑p_0q_1}}×100$

$=\sqrt{\frac{1110}{952}×\frac{1460}{1236}}×100$

$= 117.36$

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