Consider the following data :
| Commodity | Price year 2010 | Price year 2016 | Quantity year 2010 | Quantity year 2016 |
| A | 1 | 2 | 10 | 13 |
| B | 5 | 10 | 12 | 16 |
| C | 6 | 10 | 15 | 18 |
The Laspeyre's price index number for year 2016 with year 2010 as base year is :
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 181
Total for 2016 (Using 2010 quantities) = $2 × 10 + 10 × 12 + 10 × 15 = 290$
Price index = $\frac{Total\,current\,expenditure(Base)}{Total\,Base\,year\,expenditure}×100$
Price index = $\left(\frac{290}{160}\right)×100≃181.25$