Find the consumer price index number for

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Target Exam

CUET

Subject

Section B2

Chapter

Index Numbers and Time Based Data

Question:

Find the consumer price index number for 2011 on the base of 2010 from the following data. Using the method of weighted relatives.

Options:

140.87

137.27

135.77

132.57

Correct Answer:

137.27

Explanation:

The correct answer is option (2) : 137.27

Price in 2010 → Base Price

Price in 2011 → Current Price

Price relative → $I=\frac{p_1}{p_0}×100$

160

105

120

150

140

3200

1470

1800

2700

1400

$∑Iw= 10570$

∴ Index Number $=\frac{∑Iw}{∑w}=\frac{10570}{77}= 137.27$