Question types

Index Numbers (p-2) question types

91 questions across 8 question groups — pick any mix to generate a Maths (commerce) paper with step-by-step answer keys.

91
Questions
8
Question groups
5
Question types
Sample Questions

Index Numbers (p-2) 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
Dorbish-Bowley’s Price Index Number is given by
  • A
    $\frac{\frac{\sum p_1 q_0}{\sum p_0 q_1}+\frac{\sum p_0 q_1}{\sum p_1 q_0}}{2} \times 100$
  • B
    $\frac{\frac{\sum p_1 q_1}{\sum p_0 q_0}+\frac{\sum p_0 q_0}{\sum p_1 q_1}}{2} \times 100$
  • $\frac{\frac{\sum p_1 q_0}{\sum p_0 q_0}+\frac{\sum p_1 q_1}{\sum p_0 q_1}}{2} \times 100$
  • D
    $\frac{\frac{\sum p_{0 q_0}}{\sum p_{10} q_0}+\frac{\sum p_{0 q_1}}{\sum p_{11} q_1}}{2} \times 100$

Answer: C.

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Q 2MCQ1 Mark
Paassche’s Price Index Number is given by
  • A
    $\frac{\sum p_0 q_0}{\sum p_1 q_0} \times 100$
  • B
    $\frac{\sum p_0 q_1}{\sum p_1 q_1} \times 100$
  • C
    $\frac{\sum p _1 q _0}{\sum p _0 q _0} \times 100$
  • $\frac{\sum p_1 q_1}{\sum p_0 q_1} \times 100$

Answer: D.

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Q 3MCQ1 Mark
Laspeyre’s Price Index Number is given by
  • A
    $\frac{\sum p_0 q_0}{\sum p_1 q_0} \times 100$
  • B
    $\frac{\sum p_0 q_1}{\sum p_1 q_1} \times 100$
  • $\frac{\sum p_1 q_0}{\sum p_0 q_0} \times 100$
  • D
    $\frac{\sum p_1 q_1}{\sum p_0 q_1} \times 100$

Answer: C.

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Q 4MCQ1 Mark
Value Index Number by Weighted aggregate Method is given by
  • A
    $\sum \frac{p_1 q_0 w}{p_0 q_0 w} \times 100$
  • B
    $\sum \frac{p_0 q_1 w}{p_0 q_0 w} \times 100$
  • C
    $\frac{\sum p_1 q_1 w}{\sum p_0 q_1 w} \times 100$
  • $\frac{\sum p_1 q_1 w}{\sum p_0 q_0 w} \times 100$

Answer: D.

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Q 5MCQ1 Mark
Quantity Index Number By Weighted Aggregate Method is given by
  • A
    $\sum \frac{q_1 w}{q_0 w} \times 100$
  • B
    $\quad \sum \frac{q_0 w}{q_1 w} \times 100$
  • $\frac{\sum q_1 w}{\sum q_0 w} \times 100$
  • D
    $\frac{\sum q_0}{\sum q_1} \times 100$

Answer: C.

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The cost of living Index numbers for years 1995 and 1999 are 140 and 200 respectively. A person earns ₹ 11,200 per month in the year 1995. What should be his monthly earning in the year 1999 in order to maintain his standard of living as in the year 1995?
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The cost of living number for year 2000 and 2003 are 150 and 210 respectively. A person earns ₹ 13,500 per month in the year 2000. What should be his monthly earning in the year 2003 in order to maintain the same standard of living?
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Find the cost of living index number by Family Budget Method for the following data. Also, find the expenditure of a person in the year 2008 if his expenditure in the year 2005 was ₹ 10,000.
GROUPBASE YEAR (2005) PRICECURRENT YEAR (2005) PRICEWEIGHT
FOOD126025
CLOTHING104520
FUEL & LIGHTING203515
HOUSE RENT252030
MISCELLANEOUS164810
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