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Model Paper 3 — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsModel Paper 31 Mark
MCQ
Consumer Price Index (CPI) is expressed in terms of:
  • A
    $\frac{\sum P_n q_n}{\sum P_{o q_n}} \times 100$
  • ✓
    $\frac{\sum P_1 q_0}{\sum P_0 q_0} \times 100$
  • C
    $\frac{\sum P_0 q_0}{\sum P_n q_0}$
  • D
    $\frac{\sum P_n q_n}{\sum P_o q_n}$
✓

Answer

Correct option: B.
$\frac{\sum P_1 q_0}{\sum P_0 q_0} \times 100$
(b) $\frac{\sum P_1 q_0}{\sum P_0 q_0} \times 100$
Explanation:
Consumer Price Index $( CPI )=\frac{\sum P_1 q_0}{\sum P_0 q_0} \times 100$
Where P1= Price of the Commodities in the Current Year
Where PO= Price of the Commodities in the base Year
$q _0=$ Quantity consumed in base year

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