CUET Preparation Today
CUET
-- Applied Mathematics - 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
$\sum P_R = 544.63$
$P_{01} = \frac{\sum P_R}{N} = \frac{544.63}{4} = 136.157$
