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Home Questions K3VY74HRNB
Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Find the consumer index number for the year 2010 using year 2000 as the base year by using method of weighted aggregates:

Commodity A B C D E
2000 Price per unit (₹) 16 40 0.50 5.12 2
2010 Price per unit (₹) 20 60 0.50 6.25 1.50
Weights 40 25 5 20 10
Options:

145.39

142.39

138.39

135.39

Correct Answer:

138.39

Explanation:

The correct answer is option (3) : 138.39

Commodity Base Price (₹)$p_0$ Current price (₹) $p_1$ Weights w $p_1w$ $p_0w$

A

B

C

D

E

16

40

0.50

5.12

2

20

60

0.50

6.25

1.50

40

25

5

20

10

800

1500

2.5

125

15

640

1000

2.5

102.4

20
        $∑p_1w=24425$ $∑p_0w=1764.90$

 

Hence , consumer index no. = $∑\frac{p_1w}{p_2w}×100$

$=\frac{442.5}{1764.9}×100= 138.39$

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