Consider the following data :
The Laspeyre's price index number for year 2016 with year 2010 as base year is : |
181 200 150 170 |
181 |
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 = $\left(\frac{290}{160}\right)×100≃181.25$ |