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Calculate the cost of living index for the year 2006 taking 1990 as the base year from the following information using weighted average method.
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Text Solution

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Total price in the year 1990, for:
Wheat`=15xx12= Rs. 180`
Rice `=20xx13= Rs. 260`
Oil `=5xx30= Rs. 150`
Gram `=3xx30= Rs. 90`
Sugar `=5xx12= Rs. 60`
Total expenditure `=180+260+150+90+60=Rs. 740`
Similarly, total expenditure in 2006, for :
Wheat `=15xx18= Rs. 270`
Rice `=20xx20= Rs. 400`
Oil `=5xx50= Rs. 250`
Gram `=3xx60= Rs. 180`
Sugar `=5xx18= Rs. 90`
Total expenditure = Rs. 1190
`therefore` Cost of living index in 2006 `=("Total expenditure in the year"2006)/("Total expenditure in the year"1990)xx100=(1190)/(740)xx100=160.8`.
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