Question

The consumer price index for June, 2005 was 125. The food index was 120 and that of other items 135. What is the percentage of the total weight given to food?

Answer 1

Answer:

I have a doubt in the question

Answer 2

Answer:

the percentage of the total weight given to food is w1 = 66.67 w2= 33.33

Step-by-step explanation:

let the total weight=100

w1 denote for food and w2 denote for Other items.

so, w1+w2 = 100. (1)

Given CPI is 125

CPI = sigma WR ÷ sigma w

125= 120w1 + 135w2 / 100

12500= 120w1 + 135w2. (2)

By eliminating equation 1 & 2

we get w1 = 66.67

by putting the value of w1 in equation 1

we can get W2 = 33.33

HOPE THIS MAY HELP YOU ........