Question

Define index numbers. On the basis of following information calculate Laspeyre’s, Paasche’s and Fisher’s Index numbers.Commodity Base Year Current YearPrice Quantity Price QuantityA 2 30 8 50B 4 35 9 45C 6 40 10 40D 9 42 13 35E 12 50 15 25​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

Index number is a number showing the variation in a price or value compared with the price or value at a specified earlier time (often represented by the number 100).

Laspeyre's index number  = 30

Paasche’s index number = 35 - 30

                                         = 5

Fisher’s index number = 40 - 35

                                      = 5