Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Calculate quantity index for the year 2015 with 2013 as base:

Commodity

Quantity 2013

Quantity 2015

A

50

56

B

100

120

C

60

60

D

30

24

E

40

36

Options:

102.40

105.71

108.25

110.15

Correct Answer:

105.71

Explanation:

The correct answer is Option (2) → 105.71

Quantity Index = $Q_{01}=\frac{​∑Q_1}{∑Q_0} ​​×100$

where
$Q_0$​ = quantities in base year (2013)
$Q_1$​ = quantities in current year (2015)

Commodity

$Q_0$​

$Q_1$​

A

50

56

B

100

120

C

60

60

D

30

24

E

40

36

Total

$\sum Q_0 = 280$

$\sum Q_1 = 296$

$Q_{01} = \frac{\sum Q_1}{\sum Q_0} \times 100 = \frac{296}{280} \times 100 = 105.71 \text{}$