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Index Numbers — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIndex Numbers4 Marks
Question
Calculate weighted aggregative price index with Laspeyre's method from following data.
Items Base year Price Current Year Price Base year Quantity Current Year Quantity
A 40 60 12 15
B 20 24 8 10
C 50 55 12 15
D 50 55 12 15
E 30 42 20 22
✓

Answer

Items
Base Year Price $(p_0)$
Current Year price $(p_1)$
Base Year Quantity $(q_0)$
Current Year Quantity $(q_1)$
$p_1q_0$
$p_0q_0$
A
40
60
12
15
720
480
B
20
24
8
10
192
160
C
5
7
15
15
105
75
D
50
55
12
15
660
600
E
30
42
20
22
840
600
 
 
 
 
 
$\Sigma\text{p}_1\text{p}_0=2517$
$\Sigma\text{p}_0\text{q}_0=1915$
$\text{P}_{01}=\frac{\Sigma\text{p}_1\text{q}_1}{\Sigma\text{p}_0\text{q}_0}\times100$
$=\frac{2517}{1915}\times100=1.31\times100=131$
The price is said to have risen by $31\%$.

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