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Calculate price index from the following...

Calculate price index from the following data by using Weighted Average Price Relative Method:
`{:("Commodity","Base Year Price","Current Year Price","Weights"),(" A"," 6"," 8"," 240"),(" B"," 3"," 3.2"," 240"),(" C"," 2"," 3"," 40"):}`

Text Solution

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`P_(01) = (SigmaRW)/(SigmaW)`
` = (63,600)/(520) = 122.31`
Price Index = 122.31.
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