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Home Questions JS8ZKKAMEA
Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Calculate the index number for the year 2009 with 2000 as base from the following data using weighted average of price relatives.

Commodity Weights Price (in ₹)
2000 2009
A 22 2.50 6.20
B 48 3.30 4.40
C 17 6.25 12.75
D 13 0.65 0.90
Options:

165.55

173.45

171.24

168.44

Correct Answer:

171.24

Explanation:

The correct answer is option (3) : 171.24

Commodity

Weights

w

Base price (₹)

$p_0$

Current price

$(₹) $p_1$

Price relative

$I=\frac{p_1}{p_0}×100$

 $Iw$
A 22 2.50 6.20 248 5456
B 48 3.30 4.40 133.33 6399.84
C 17 6.25 12.75 204 5468
D 13 0.65 0.90 138.46 1799.98
  $∑=100$       $∑Iw=17123.82$

 

∴Index No. $=\frac{∑Iw}{∑w}=\frac{17123.82}{100}= 171.24$

CUET Questions