A factory used three raw materials A, B and C in its manufacturing process. The prices are as follows using 2010 as the base year
a simple aggregate price index for year 2020 is |
100 104 105 95 |
105 |
The correct answer is Option (3) → 105 The simple aggregate price index is, $P=\frac{∑P_n}{∑P_0}×100$ $=\frac{6+57+42}{5+65+30}×100=\frac{105}{100}×100$ $=105$ |