Question
Calculate Value Index number using a simple method of the following data:
✓
Answer
Steps: $\Sigma p_0 q_0=$ Sum total of product of the $p_0$ and $q_0$ of base year
$\Sigma p_1 q_1=$ Sum total of product of the $p_1$ and $q_1$ of current year Value Index Number $V _{01}=\frac{\Sigma p_1 q_1}{\Sigma p_0 q_0} \times 100$
$ =\frac{4,200}{290} \times 100$
$=1,448 $
Hence, $V_{01}=1,448$
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