CUET Preparation Today
CUET
Section B2
Index Numbers and Time Based Data
From the following data construct index number for 2015 taking 2012 as base year.
Commodity
Price 2012
Price 2015
Milk
₹33/litre
₹44/litre
Cloth
₹140/metre
₹145/metre
Potato
₹14/kg
₹25/kg
Wheat
₹1200/quintal
₹1550/quintal
115.60
127.18
136.157
140.25
The correct answer is Option (3) → 136.157
$P_0$
$P_1$
Price Relative $P_R=\frac{P_1}{P_0}×100$
33
44
$\frac{44}{33} \times 100 = 133.33$
140
145
$\frac{145}{140} \times 100 = 103.57$
14
25
$\frac{25}{14} \times 100 = 178.57$
1200
1550
$\frac{1550}{1200} \times 100 = 129.16$
Total
$\sum P_R = 544.63$
$P_{01} = \frac{\sum P_R}{N} = \frac{544.63}{4} = 136.157$
