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INDEX NUMBER Statistics - INDEX NUMBER

Gujarat Board (GSEB) - STD 12 Commerce - Statistics (GSEB - English Medium). 219 questions in this chapter.

Question types

INDEX NUMBER question types

219 questions across 6 question groups — pick any mix to generate a Statistics paper with step-by-step answer keys.

219
Questions
6
Question groups
5
Question types
Sample Questions

INDEX NUMBER questions

One sample from each question group in this chapter. Select any group above to see the full set with answer keys.

Q 1MCQ1 Mark
If the cost of living index number for the people of a class is $200$ for the year $2016$ with respect to the year $2015,$ which of the following statements is true $?$
  • A
    There is an average $200$ percent rise in the current year prices of the items consume by that class
  • B
    There is an average $100$ percent decrease in the current year prices of the items consumed by that class
  • ✓
    Purchasing power of money is $Rs. 0.5.$
  • D
    The current year prices of the items consumed by that class are stable.

Answer: C.

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Q 2MCQ1 Mark
If the purchasing power of money is $0.75$ in the year $2016$ with respect to the base year $2015,$ then what will be the price index number for the year $2016 ?$
  • A
    $750$
  • B
    $175$
  • ✓
    $133.33$
  • D
    $275$

Answer: C.

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Q 3MCQ1 Mark
The price of an item increased by $4.5$ times in the current year as compared to the last year. What will be the price index number $?$
  • A
    $45$
  • B
    $450$
  • ✓
    $550$
  • D
    $350$

Answer: C.

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Q 4MCQ1 Mark
Which index number given an idea of standard of living of people ?
  • A
    Index number of total expenditure
  • B
    Index number of national income
  • C
    Index number of per capita income
  • ✓
    Cost of living index number

Answer: D.

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Q 5MCQ1 Mark
Which average is considered as the best average in construction of the index number ?
  • ✓
    Harmonic mean
  • B
    Arithmetic mean
  • C
    Weighted mean
  • D
    Geometric mean

Answer: A.

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Q 112 Marks Each2 Marks
Convert the following index numbers obtained by fixed base method about the production of craft industry of a state into the chain base index numbers.
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Q 122 Marks Each2 Marks
The data about bi-monthly closing prices of shares of a company in the year $2014$ are given. Compute the chain base index numbers from these data.
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Q 132 Marks Each2 Marks
The data about sugar production of a sugar manufacturing company from the year $2008$ to $2015$ are as follows. Prepare index number by fixed base method from these data by taking average production of the years $2009, 2010$ and $2011$ as the production of the base year.
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Q 142 Marks Each2 Marks
If the increase in the price relatives of three items are $250 \%, 265 \%$ and $300 \%$ respectively and if the ratio of the importance of these items is $8 : 7 : 5,$ find the general price index number.
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Q 152 Marks Each2 Marks
The wholesale price index numbers of the year $2015$ and $2016$ are found to be $150.2$ and $165.7$ respectively. Find the rate of inflation using index numbers of both the years.
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Q 163 Marks Each3 Marks
The wholesale price index numbers for commodities with the base year $2007- 08$ are as follows. Compute the chain base index numbers.
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Q 173 Marks Each3 Marks
The following data are available about the crimes in a city. Find the general index number by fixed base method considering the year $2010$ as base year.
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Q 183 Marks Each3 Marks
The prices of three items $A, B$ and $C$ among five items have increased in the year $2015$ by $90 \%, 120 \%$ and $70 \%$ respectively with respect to the year $2010,$ whereas the prices of two items $D$ and $E$ have decreased by $2 “/0$ and $5 "a$ respectively. Item $A$ is four times important than item $B$ and item $C$ is six times important than item $A.$ The importance of items $D$ and $E$ is two and half times the importance of item $B.$ Compute the general price index number of the year $2015$ for all the five items.
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Q 193 Marks Each3 Marks
The prices per unit $R$ of six food items in the year $2014$ and $2015$ are given in the following table. Taking $2014$ as the base year, compute the general index number for the price of food items and state the overall rise in prices of these food items.
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Q 203 Marks Each3 Marks
Find the cost of living index number by the family budget method from the following information about index numbers of different groups ofitems for living and their weights.
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Q 214 Marks Each4 Marks
The data about the purchase of groundnut by an edible oil mill from the year $2008$ to $2015$ are as follows. Prepare the index numbers by fixed base method with the year $2008$ as the base year, with chain base and by taking the average quantity purchased in the year $2010$ and $2011$ as the purchase for the base year.
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Q 224 Marks Each4 Marks
Find the real wages for the worker class of a city from the following data about their average monthly wage and the cost of living index number $($base year $2001).$ Find the purchasing power of money in the year $2015$ by taking the base year $2001$ and state the importance of this answer.
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Q 234 Marks Each4 Marks
The following data are obtained from the budget inquiry of middle class families. State the change in the cost of living in the current year $2015$ with respect to the base year $2014$ by finding the index number. If the average monthly disposable income of a family is f $30,000$ during the year $2014$ and their average monthly disposable income during the year $2015$ is $?\ 35,000$ then according to family budget index number, what should be the rise in the average monthly disposable income of the family to maintain the same standard of living of the base year ?
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Q 244 Marks Each4 Marks
The data referring to worker class of a city are as follows. Find the general index numbers for the years $2014$ and $2015.$ If the wages of these workers in $2014$ are increased by $5 \%$ in the year $2015,$ is this rise in wages sufficient to maintain their standard of living $?$
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Q 254 Marks Each4 Marks
Calculate the cost of living index number by the total expenditure method and the family budget method for the year $2015$ with the base year $2014$ using the following data.
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Q 265 Mark Each5 Marks
The data about sale of three grain flour wheat, bajri and chana at a flour mill from the year $2011$ to $2015$ are as follows. Compute the general index number using simple average with $(i)$ fixed base method $($taking base year $2011)$ and $(ii)$ Chain base method.
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Q 275 Mark Each5 Marks
The details of expenses on fuel for a group of workers of a region are as follows :
Prepare the index number of the group of fuel expenditure from these data. If the expenditurefor food, clothing, house rent and miscellaneous groups in the year $2015$ are $3, 2.5, 4.5$ and $3.25$ times respectively that of the year $2012,$ and if the expenditures on these groups are $42 \%, 15 \%, 10 \%$ and $12 \%$ respectively of the total expenditure then prepare the cost ofliving index number for the workers.
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Q 285 Mark Each5 Marks
Compute Laspeyre’s, Paasehe’s and Fisher’s index numbers for the year $2016$ from the data given below by taking $2015$ as the base year.
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Q 295 Mark Each5 Marks
Find Laspeyre’s, Paasche’s and Fisher’s index numbers for the year $2016$ with base year $2015$ from the data about price and consumption of food items given below.
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Q 305 Mark Each5 Marks
The data about per unit price and weight of four different items in the year $2014$ and $2015$ are as follows. Compute the index number of the year $2015.$
Item Weight Year $2014$ Price per unit $(Rs.)$ Year $2015$ Price per unit $(Rs.)$
$A$ $40$ $32$ $40$
$B$ $25$ $80$ $100$
$C$ $20$ $24$ $30$
$D$ $15$ $4$ $6$
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