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Index Numbers — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIndex Numbers6 Marks
Question
Calculate weighted aggregative price index from the following data using Fisher's method.
Commodity Base Year Current Year
Price (₹) Quantity Price (₹) Quantity
A 2 10 4 5
B 5 12 6 10
C 4 20 5 15
D 2 15 3 10
✓

Answer

Consturction of Index Number:
Commodity
Base Year
Current Year
$p_0q_0$
$p_1q_0$
$p_0q_1$
$p_1q_1$
$p_0$
$q_0$
$p_1$
$q_1$
A
2
10
4
5
20
40
10
20
B
5
12
6
10
60
72
50
60
C
4
20
5
15
80
100
60
75
D
2
15
3
10
30
45
20
30
          $\Sigma\text{p}_0\text{q}_0=190$ $\Sigma\text{p}_0\text{q}_1=257$ $\Sigma\text{p}_0\text{q}_1=140$ $\Sigma\text{p}_1\text{q}_1=185$
Fisher's Price Index Number $\text{P}_{01}=\sqrt{\frac{\Sigma\text{p}_1\text{q}_0}{\Sigma\text{p}_0\text{q}_0}\times\frac{\Sigma\text{p}_1\text{q}_1}{\Sigma\text{p}_0\text{q}_1}}\times100$$=\sqrt{\frac{185}{140}\times\frac{257}{190}}\times100=\sqrt{1.32\times1.35}\times100$
$=1.3335\times100$
$\text{P}_{01}=133.5$

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