Question

Given below are the data on prices of some consumer goods and the weights attached to

the various items Compute price index number for the year 1985 (Base 1984 = 100)


Items Unit 1984 1985 Weight

Wheat Kg. 0.50 0.75 2

Milk Litre 0.60 0.75 5

Egg Dozen 2.00 2.40 4

Sugar Kg. 1.80 2.10 8

Shoes Pair 8.00 10.00 1


Then weighted average of price Relative Index is ?

(b) 123.3 is Correct Answer

Please Give Proper Solution​

Answer 1

Thus, the answer is b)123.3