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 |
Answer & explanation
Correct answer: option 2
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 |
$\sum Q_0 = 280$ |
$\sum Q_1 = 296$ |
$Q_{01} = \frac{\sum Q_1}{\sum Q_0} \times 100 = \frac{296}{280} \times 100 = 105.71 \text{}$