From the following data Commod ity Base year Current year Pric e Quanti ty Pric e quanti ty x 2 85 4 95 y 6 135 5 155 z 8 65 5 30 Value index is____ a) 87 b) 114.94 c) 115.97 d) none
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To calculate the Price Index, take the price of the Market Basket of the year of interest and divide by the price of the Market Basket of the base year, then multiply by 100.
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