Question types

PART 1 : INDEX NUMBER question types

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

83
Questions
6
Question groups
5
Question types
Sample Questions

PART 1 : 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
Which index number is useful to determine the foreign exchange requirement in the country ?
  • A
    Index number of national income
  • Index number of import export
  • C
    Index number of industrial production
  • D
    Wholesale price index number

Answer: B.

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Q 2MCQ1 Mark
How should be the base year ?
  • A
    Year of economic disturbance
  • B
    Year of emergency
  • Year of normal events
  • D
    Year of natural calamities

Answer: C.

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Q 3MCQ1 Mark
Which index number is used to decide the rate of inflation?
  • A
    Cost of living index number
  • B
    Index number of national income
  • Wholesale price index number
  • D
    Index number of import export

Answer: C.

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Q 4MCQ1 Mark
Which index number is useful to obtain the real income ?
  • A
    Wholesale price index number
  • B
    Index number of national income
  • Cost of living index number
  • D
    Index number of human development

Answer: C.

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Q 5MCQ1 Mark
If the price of an item increased by three and half times in the current year as compared to the base year, what is the price index number ?
  • $450$
  • B
    $425$
  • C
    $350$
  • D
    $325$

Answer: A.

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Q 112 Marks Each2 Marks
If the average monthly income of middle class families is $₹ 18,000$ and the cost of living index number is $220$ for the year $2018 ,$ find the real average monthly income of these families.
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Q 122 Marks Each2 Marks
Find the chain base index numbers from the fixed base index numbers given below.
Year $2016$ $2017$ $2018$
Fixed base index numbers $250$ $295$ $300$
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Q 163 Marks Each3 Marks
Calculate index number by total expenditure method from the following data.
Item Quantity Price $(₹)$
Year $2014$ Year $2014$ Year $2018$
$A$ $4$ $10$ $11$
$B$ $7$ $5$ $13$
$C$ $10$ $3$ $12$
$D$ $3$ $20$ $24$
$E$ $2$ $13$ $26$
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Q 173 Marks Each3 Marks
The prices of five food items for the year $2012$ and $2017$ are given below. Find general price index number for the items by taking the year $2012$ as the base year.
Item Price per kg $(₹)$  
  Year $2012$ Year $2017$
$A$ $8$ $10$
$B$ $12$ $18$
$C$ $10$ $7$
$D$ $6$ $9$
$E$ $15$ $21$
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Q 183 Marks Each3 Marks
Convert the following fixed base index numbers into chain base index numbers.
Year $2010$ $2011$ $2012$ $2013$ $2014$ $2015$
Index number $130$ $132$ $96$ $144$ $138$ $108$
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Q 193 Marks Each3 Marks
From the following data, find index numbers by taking the average price of the year $2013$ and $2015$ as the base year price.
Year $2013$ $2014$ $2015$ $2016$ $2017$ $2018$
Price $(₹)$ $16$ $12$ $20$ $24$ $33$ $30$
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Q 203 Marks Each3 Marks
The prices of three items among five items increased by $40 \%, 50 \%$ and $60 \%$ and prices of the other two items decreased by $20 \%$ and $30 \%$. If the ratio of importance of these items is $4: 3: 7: 9: 2$ respectively, find the general index number for the group of these items.
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Q 214 Marks Each4 Marks
$\text { From the following data, calculate cost of living index number for the year } 2015 \text {. }$
Group Food Rent Clothes Fuel Miscellaneous
Expenditure $(\%)$ $35$ $15$ $20$ $10$ $20$
Price $(₹)$ in $2010$ $150$ $30$ $75$ $25$ $40$
Price $(₹)$ in $2015$ $145$ $30$ $65$ $23$ $45$
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Q 224 Marks Each4 Marks
From the following data about daily wages of workers, compute index numbers by $(i)$ Fixed base method by taking the year $2011$ as base year $(ii)$ Chain base method.
Year $2008$ $2009$ $2010$ $2011$ $2012$ $2013$ $2014$ $2015$
Daily wages $(₹)$ $60$ $80$ $90$ $80$ $100$ $120$ $125$ $160$
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Q 234 Marks Each4 Marks
From the following data about the price and consumption of food items, find index number for the year $2014$ by family budget method.
Item $2006$ $2014$
  Quantity $(kg)$ Price $(₹)$  
Wheat $60$ $25$ $30$
Rice $40$ $20$ $25$
Bajri $15$ $15$ $20$
Pulses $25$ $50$ $70$
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Q 244 Marks Each4 Marks
From the following data, find index number for the year $2018$ by family budget method considering the year $2017$ as base year.
Group $2017$ Price $(₹)$ $2018$ Price $(₹)$ Weight
$A$ $20$ $24$ $4$
$B$ $1.25$ $1.5$ $3$
$C$ $5$ $8$ $2$
$D$ $2$ $2.25$ $1$
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Q 254 Marks Each4 Marks
The data about exports of four items $A, B, C$ and $D$ from the year $2008$ to $2012$ are as follows. Calculate the general index number of exports -
Item Exports $($Lakh $₹)$
$2008$ $2009$ $2010$ $2011$ $2012$
$A$ $20$ $23$ $25$ $28$ $32$
$B$ $10$ $15$ $18$ $21$ $27$
$C$ $25$ $32$ $40$ $48$ $56$
$D$ $4$ $5$ $6$ $8$ $10$
$(i)$ By fixed base method considering the year $2008$ as base year $(ii)$ By chain base method
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Q 265 Mark Each5 Marks
Among the different groups ofcost of living expenditure, the price of food increased by $60 \%$ in the year $2018$ as compared to the base year. The index number of clothing is $190.$ The price of fuel decreased by $10 \%,$ the expense on rent increased by $1.7$ times and the miscellaneous expenses increased from ? $2000$ to ? $4000.$ If the percentage of total expenditure for the first four groups are $40 \%, 12 \%, 20 \%$ and $10 \%$ respectively, find the cost of living index number for the year $2018$ and interpret it.
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Q 275 Mark Each5 Marks
Find the ideal index number from the data given below.
Item Current year   Base year  
  Quantity Price $(₹)$ Quantity Price $(₹)$
$A$ $11$ $20$ $10$ $10$
$B$ $30$ $22$ $20$ $8$
$C$ $25$ $8$ $11$ $2$
$D$ $20$ $16$ $13$ $7$
$E$ $10$ $3$ $6$ $5$
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Q 285 Mark Each5 Marks
Find index number by total expenditure method and by family budget method from the data given below.
Item Unit $2000$   $2018$
    Quantity Price $(₹)$ Price $(₹)$
$A$ Quintal $35 \ kg$ $400$ $600$
$B$ Gram $20$ gram $5$ $8$
$C$ Dozen $24$ pieces $14$ $21$
$D$ Box $30$ pieces $250$ $300$
$E$ Tin $25 \ kg$ $120$ $180$
$F$ Litre $40$ litre $14$ $22.4$
$($Note : $1$ Box : $50$ pieces and $1$ tin : $20 \ kg)$
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Q 295 Mark Each5 Marks
Find the ideal index number for the year $2018$ from the data given below.
Item Unit $2013$   $2018$  
    Price $(₹)$ Quantity Price $(₹)$ Quantity
$A$ $1\ kg$ $4$ $3000$ gram $8$ $4\ kg$
$B$ $20 \ kg$ $120$ $10 \ kg$ $280$ $15 \ kg$
$C$ $5$ dozens $120$ $3$ dozens $140$ $48$ pieces
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Q 305 Mark Each5 Marks
Find Laspeyre’s, Paasche’s and Fisher’s index numbers using the following data for the year $2018$ by taking the year $2014$ as the base year.
Item Unit Price $(₹)$   Quantity  
    $2014$ $2018$ $2014$ $2018$
$A$ $20 \ kg$ $80$ $120$ $5\ kg$ $7\ kg$
$B$ Quintal $500$ $700$ $10 \ kg$ $15 \ kg$
$C$ Kg $10$ $14$ $1200$ gram $2000$ gram
$D$ Dozen $36$ $60$ $20$ pieces $25$ pieces
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