In year 2005, the whole sale price index number is 286 with 1985 as base year, then how much the
prices have increased in 2005 in comparison to 1995 ?
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212.5
Explanation:
ANSWER
CommodityWeight
w Pricein1975
P0 Pricein1985
P1Pricerelative
I=P0P1×100I.w A20 10 30 300 6000 B 30 20 35 175 5250C10 5 10 200 2000 D40 40 80 200 8000 $$Total$∑w=100 ∑I.w=21250⇒ By using weighted average of price relative method,
⇒ P01=∑w∑I.w=10021250=212.5
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