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Index Numbers

Question
CBSEENST11024699
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Given the following data and assuming 1980 as the base year find the index number of the prices of different commodities for the year 1997:

Commodity

A

B

C

D

E

Price in 1980

20

16

5

18

25

Price in 1987

12

11

6

15

26

Solution

Commodity

1980(Po)

1997 (P1 )

A

26

12

B

16

11

C

5

6

D

8

15

E

25

26
 

ΣP0= 80

ΣP1 =70

Some More Questions From Index Numbers Chapter

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.

The consumer price index for june, 2005 was 125. The food index was 120 and that of others items 135. What is the percentage of the total weight given to food?

If a salary of a person in the base year is Rs. 4000 per annum and the current year is Rs. 6000 by how much should his salary rise to maintain the same standard of living if the CPI in Rs. 4000.

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