The prices and the quantities of three commodities are given are:
The Laspeyre's price index number for year 2009 with year 2006 as base is 200. The value of x is: | ||||||||||||||||||||||||
320 360 140 260 |
360 |
The correct answer is Option (2) - 360 $\text{Laspeyres index } P_{01} = \frac{\sum p_1 q_0}{\sum p_0 q_0} \times 100 = 200$ $\sum p_1 q_0 = 90\cdot12 + x\cdot8 + 50\cdot4$ $= 1080 + 8x + 200 = 1280 + 8x$ $\sum p_0 q_0 = 100\cdot12 + 80\cdot8 + 60\cdot4$ $= 1200 + 640 + 240 = 2080$ $\frac{1280 + 8x}{2080} \times 100 = 200$ $\frac{1280 + 8x}{2080} = 2$ $1280 + 8x = 4160$ $8x = 2880$ $x = 360$ The value of $x$ is $360$. |