Question

42. Calculate cost of living index number from the following data
Item Food Education Rent Fuel Clothing
Group Index 110 120 112 | 108 105
Weights 3
8
4 6 9
​

Answer 1

Answer:

Calculate cost of living index from the following table of prices and weights.CommodityWeightPrice indexFood35108.5Rent9102.6Clothes1097Fuel7100.9MIscellaneous3 .

Commodity Weight w Price index I I.w Food 35 108.5 3797.5 Rent 9 102.6 923.4 Clothes 10 97 970 Fuel 7 100.9 706.3 Miscellaneous 39 103.7 4044.3 Total ...