Question

Calculate index number of prices for three years with average price of three years as bases
using avernge of price relative method from the data given below
year commodity
A. B. C
1. 101. 25. 30
2. 99. 20. 25
3. 106. 15. 20
​

Answer 1

Step-by-step explanation:

ANSWER:

Commodity Prices in 2015

(p0) Prices in 2011

(p1)

ABCD

∑ p0 = 107 ∑ p1 = 176

p01=Σp1Σp0×100=176107=164.48

Thus, price index is 164.48.

Answer 2

Answer: 164.48

Step-by-step explanation: As the prices for three years with the average price of three years as bases using the average of price relative method from the data given below year commodity is

As $P_{0} w=107\\P_{1}w=176$

So by $p_{0} =\frac{p_{1}w }{p_{0} w}$×100

             $=\frac{176}{107}=164.48$

Hence, the correct answer is 164.48

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