Practicing Success
Practicing Success
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Consider that $p_0, q_0$ represents price and quantity of base year and $p_1, q_1$ represents price and quantity for the current year. Given that $\sum p_0 q_0=584, \sum p_0 q_1=484$. $\sum p_1 q_0=623$ and $\sum p_1 q_1=517$. Which of the following gives Fisher's price Index Number $\left(P_{01}\right)$? |
$P_{01}=\sqrt{\frac{623 \times 517}{584 \times 484}} \times 100$ $P_{01}=\sqrt{\frac{6.23 \times 5.17}{5.84 \times 4.84}} \times \log _e 2$ $P_{01}=\frac{584 \times 484}{623 \times 517}$ $P_{01}=\sqrt{\frac{584 \times 484}{623 \times 517}} \times 100$ |
$P_{01}=\sqrt{\frac{623 \times 517}{584 \times 484}} \times 100$ |
The correct answer is Option (1) → $P_{01}=\sqrt{\frac{623 \times 517}{584 \times 484}} \times 100$ |
