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Index Numbers

Question

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Find out Index value from the following data using Laspeyer’s method.

Item

Base Year (Quantity)

Base Year Price (Rs.)

Current Year (Quantity)

Current Year Price (Rs.)

A

4

15

5

20

B

6

10

8

12

C

5

8

3

16

D

3

9

6

1

Solution

Item	Q₀	P₀	Q₁	P₁	P₁Q₁	P₀Q₀
A	4	15	5	20	80	60
B	6	10	8	12	72	60
C	5	8	3	16	80	40
D	3	9	6	1	3	27
					ΣP₁Q₀ = 235	ΣP₀Q₀=187

Some More Questions From Index Numbers Chapter

In general, inflation is calculated by using:

The item having the highest weight in consumer’s price index for industrial workers is:

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?

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