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Index Numbers

Question

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From the following data calculate unweighted price relative index.

Commodity

Base Period Price

Current Period Price

A

2

4

B

5

6

C

4

5

D

2

3

Solution

Commotity	Base Period Price in Rs. (Po)	Current Period Price inRs. (P₁)	Price relatives
A	2	4
B	5	6
C	4	5
D	2	3
N = 4

Some More Questions From Index Numbers Chapter

consumer price index measures changes in:

The wholesale price index.

D.A. paid to the workers is based on:

Why do we need an index number?

Why is it essential to have different CPIs for different categories of consumers?

What does a consumer price index for industrial workers measure?

What is the difference between a price index and a quantity index?

Is the change in any price reflected in price index number?

Can the CPI for urban non-manual employees represent the changes in the cost of living of the President of India?

Try to list the important items of consumption in your family.

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