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Question
Find Price Index Number using Simple Aggregate method by taking 2000 as base year
| Commodity | Price (in ₹) for year 2000 |
Price (in ₹) for year 2007 |
| Watch | 900 | 1,475 |
| Shoes | 1,760 | 2,300 |
| Sunglasses | 60 | 1,040 |
| Mobile | 4,500 | 8,500 |
Solution
| Commodity | Price in 2000 (Base year) p0 |
Price in 2007 (Current year) p1 |
| Watch | 900 | 1,475 |
| Shoes | 1,760 | 2,300 |
| Sunglasses | 60 | 1,040 |
| Mobile | 4,500 | 8,500 |
| Total | 7,760 | 13,315 |
From the table, `sum"p"_0` = 7,760, `sum"p"_1` = 13,315
Price Index Number (P01) = `(sum"p"_1)/(sum"p"_0) xx 100`
= `(13,315)/(7,760) xx 100`
=171.59
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Quantity Index Number by Simple Aggregate Method is given by _______.
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Quantity Index Number by Weighted Aggregate Method is given by _______.
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Value Index Number by Weighted Aggregate Method is given by _______.
`sum ("p"_0"q"_0)/("p"_1"q"_1) xx 100` is Value Index Number by Simple Aggregate Method.
Solve the following problem :
Find the Quantity Index Number using Simple Aggregate Method.
| Commodity | Base year quantity | Current year quantity |
| A | 100 | 130 |
| B | 170 | 200 |
| C | 210 | 250 |
| D | 90 | 110 |
| E | 50 | 150 |
Solve the following problem :
Find the Value Index Number using Simple Aggregate Method.
| Commodity | Base Year | Current Year | ||
| Price | Quantity | Price | Quantity | |
| I | 20 | 42 | 22 | 45 |
| II | 35 | 60 | 40 | 58 |
| III | 50 | 22 | 55 | 24 |
| IV | 60 | 56 | 70 | 62 |
| V | 25 | 40 | 30 | 41 |
Explain the types of index numbers.
Choose the correct alternative:
`(sum"p"_1"q"_1"w")/(sum"p"_0"q"_0"w") xx 100` gives
State whether the following statement is True or False:
`sum("q"_1)/("q"_0) xx 100` is the Quantity Index Number by Simple Aggregate Method
Find Price Index Number using Simple Aggregate method by taking 2005 as base year.
| Commodity | P | Q | R | S | T |
| Price in 2005 (in ₹) | 10 | 25 | 14 | 20 | 30 |
| Price in 2015 (in ₹) | 32 | 40 | 20 | 45 | 70 |
Find Quantity Index Number using Simple Aggregate method
| Commodity | A | B | C | D | E |
| Base year Quantity | 170 | 150 | 100 | 195 | 205 |
| Current year Quantity | 90 | 70 | 75 | 150 | 95 |
Calculate Quantity Index Number using Simple Aggregate method
| Commodity | I | II | III | IV | V |
| Base year Quantity | 140 | 120 | 100 | 200 | 225 |
| Current year Quantity | 100 | 80 | 70 | 150 | 185 |
Find x if the Price Index Number by Simple Aggregate Method is 125
| Commodity | P | Q | R | S | T |
| Base Year Price (in ₹) | 10 | 8 | 12 | 24 | 18 |
| Current Year Price (in ₹) | 14 | 10 | x | 28 | 22 |
Choose the correct pair:
| Group A | Group B |
| 1) Price Index | a) `(sump_1q_1)/(sump_0 q_0) × 100` |
| 2) Value Index | b) `(sumq_1)/(sumq_0) × 100` |
| 3) Quantity Index | c) `(sump_1q_1)/(sump_0 q_1) × 100` |
| 4) Paasche's Index | d) `(sump_1)/(sump_0) × 100` |
State with reason whether you agree or disagree with the following statement:
The quantity index number is one type of index number.
Choose the correct pair :
| Group A | Group B | ||
| 1) | Price Index | a) |
`(sump1q1)/(sump0q0)xx100` |
| 2) | Value Index | b) | `(sumq1)/(sumq0)xx100` |
| 3) | Quantity Index | c) | `(sump1q1)/(sump0q1)xx100` |
| 4) | Paasche's Index | d) | `(sump1)/(sump0)xx100` |
State with reasons whether you agree or disagree with the following statement.
There are many types of index numbers.
Observe the following table and answer the questions given below it:
| Commodities | Prices in 2006 (in ₹) (Base Year) P0 | Prices in 2006 (in ₹) (Current Year) P1 |
| A | 20 | 30 |
| B | 30 | 45 |
| C | 40 | 60 |
| D | 50 | 75 |
| E | 60 | 90 |
Questions:
- Write the formula for calculation of price index.
- Find the value of ∑P0 and ∑P1.
- Find the price index P01.
