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From the following data, find the Cost o...

From the following data, find the Cost of Living Index Number of 2018 on the basis of 2004 by (i) Aggregate Expenditure Method, and (ii) Family Budget Method:

Text Solution

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Cost of Living Index Number = `=(Sigmap_(1)q_(0))/(Sigmap_(0)q_(0))xx100`
`=(1,450)/(1,097.5)xx100`
`=132.12`

Cost of Living Index = `=(SigmaRW)/(SigmaW)`
`=(1,44,991.75)/(1,097.5)`
`=132.11`
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