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Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Compute the weighted aggregative price index number for year 2018 with year 2012 as base year using Fisher's ideal index number from the following data.


Commodity		 Prices (₹) Quantities
In 2000 In 2008 In 2000 In 2008
A 10 10 5 25
B 35 4 35 10
C 30 3 15 15
D 10 25 20 20
E 40 3 40 5
Options:

100.65

104.65

102.55

106.95

Correct Answer:

104.65

Explanation:

The correct answer is option (2) : 104.65

Commodity $p_0$ $p_1$ $q_0$ $q_1$ $p_0q_0$ $p_0q_1$ $p_1q_0$ $p_1q_1$
A 10 5 10 25 100 250 50 125
B 35 35 4 10 140 350 140 350
C 30 15 3 15 90 450 45 225
D 10 20 25 20 250 200 500 400
E 40 40 3 5 120 200 120 200
Total         700 1450 855 1300

 

Fisher's Ideal index number$=\sqrt{\frac{∑p_1q_0}{∑p_0q_0}×\frac{∑p_1q_1}{∑p_0q_1}}×100$

$=\sqrt{\frac{855}{700}×\frac{1300}{1450}}×100=104.65$

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