Home
Class 11
ECONOMICS
Compute a price index for the following ...

Compute a price index for the following by (i) Simple Aggregative Method, and (ii) Average of Price Relative Method:
`{:("Commodities","A","B","C","D","E","F",),("Price in 2004 (Rs.)",20,30,10,25,40,50,),("Price in 2018 (Rs.)",25,30,15,35,45,55,):}`

Text Solution

Verified by Experts

The correct Answer is:
(i) By Simple Aggregative Index Method = 117.14, (ii) By Price Relative Index Method = 122.92
Promotional Banner

Topper's Solved these Questions

  • INDEX NUMBERS

    TARUN JAIN & VK OHRI|Exercise NCERT Questions (With Hints to Answers)|12 Videos
  • INDEX NUMBERS

    TARUN JAIN & VK OHRI|Exercise Long Answer Type Questions|6 Videos
  • FREQUENCY DIAGRAMS - HISTOGRAM, POLYGON AND OGIVE

    TARUN JAIN & VK OHRI|Exercise EXERCISE NCERT|7 Videos
  • MEASURES OF CENTRAL TENDENCY - ARITHMETIC MEAN

    TARUN JAIN & VK OHRI|Exercise Illustration|72 Videos

Similar Questions

Explore conceptually related problems

Compute a price index from the following by (i) Simple Aggregative Method, and (ii) Average of Price Relative Method. {:("Commodity","A","B","C","D","E","F"),("Price in 2004 (Rs)",200,300,100,250,400,500),("Price in 2018 (Rs)",250,300,150,350,450,550):}

Given the following data and assuming 2004 as the base year, find out index value of the prices of different commodities for the year 2018 {:("Commodity","A","B","C","D","E"),("Price in 2004 (Rs)",50,40,10,5,2),("Price in 2018 (Rs)",80,60,20,10,6):}

Construct the price index from the following data, by taking 2004 as the base year. {:("Items","A","B","C","D","E"),("Price in 2004 (Rs)",6,2,4,10,8),("Price in 2018 (Rs)",15,3,8,14,16):}

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"):}

Construct a weighted index number of the following data using Price Relative Method: {:("Item","A","B","C","D","""E",),("Base Year (Quantity)",24,14,8,4,8,),("Base Year (Price)",2,4,6,10,5,),("Current Year (Price)",3,5,9,12,5,):}

Construct index number by Price Relative Method taking 2004 as base year. {:("Year","A","B","C","D"),(2004,25,18,16,21),(2016,20,22,24,22),(2017,25,20,25,25),(2018,28,24,30,26):}

Given the following data and using Weighted Average Price Relative Method, construct index number for 2018 based on 2004 prices.

Find the Consumer Price Index from the following data. Using (i) Aggregative Expenditure Method, and (ii) Family Budget Method. Is there any difference between the two results ?

Given the following data and using the Price Relatives Method, construct an index number for the year 2018 in relation to 2004 prices.

Construct index numbers of prices in the year 2018 from the following data by using: (i) Laspeyre's Method, (ii) Paasche's Method, and (iii) Fisher's Method.

TARUN JAIN & VK OHRI-INDEX NUMBERS-Essential Practicals
  1. Taking 2004 as base year, construct the index numbers of the year 2014...

    Text Solution

    |

  2. Construct index number by Price Relative Method taking 2004 as base ye...

    Text Solution

    |

  3. Compute a price index for the following by (i) Simple Aggregative Met...

    Text Solution

    |

  4. Construct price index number of the following data by using: (i) Las...

    Text Solution

    |

  5. Construct an index number for the year 2018, taking 2004 as base year ...

    Text Solution

    |

  6. Given the following data and taking 2004 as the base year, construct i...

    Text Solution

    |

  7. Construct a weighted index number of the following data using Price Re...

    Text Solution

    |

  8. Find out the index number of the followng data with Laspeyre's Method...

    Text Solution

    |

  9. Construct index number of the following data with Laspeyre's and Paasc...

    Text Solution

    |

  10. Construct index numbers of the following data by Fisher's Method:

    Text Solution

    |

  11. Construct Cost of Living index on the basis of the following data: {...

    Text Solution

    |

  12. Construct Consumer Price Index Number with the help of the following d...

    Text Solution

    |

  13. From the following data find Consumer Price Index or Cost of Living I...

    Text Solution

    |

  14. Construct Cost of Living Index Number for the year 2018 from the follo...

    Text Solution

    |

  15. Find the Consumer Price Index from the following data. Using (i) Ag...

    Text Solution

    |

  16. Construct index number of industrial production in the year 2018 from ...

    Text Solution

    |

  17. Construct index number of industrial production from the following dat...

    Text Solution

    |

  18. Construct index number of industrial production from the following dat...

    Text Solution

    |