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INDEX NUMBER — Statistics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceStatisticsINDEX NUMBER1 Mark
Question
Mention the formula for Paasche’s index number.
✓

Answer

Formula for Paasche’s index number is
$I_p=\frac{\sum p_1 q_1}{\sum p_0 q_1} \times 100$
Where, $\mathrm{p}_0=$ Price of the base year
$p_1=$ Price of the current year
$q_1=$ Quantity of the current year

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