For the data
|
Variable |
Price | Weights |
|
| Base year | Current year | ||
| X | 30 | 50 | 8 |
| Y | 10 | 15 | 7 |
| Z | 25 | 30 | 4 |
The weighted price index number is :
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 152.44
∑(Current year price $(P_C)$ × Weights) = $(50×8) + (15×7) + (50×4)$
$=625$
∑(Base year price $(P_B)$ × Weights) = $(30×8) + (10×7) + (25×4)$
$=410$
∴ Weighted Price index = $\frac{625}{410}×100≃152.44$