Question

The current price index (base 1960) is nearly 330. This means that
1) all items cost 3-3 times more than what they did in 1960
2) weighted means of prices of certain item has increased 3-3 times
3) the prices of certain selected items have gone up to 3-3 times
4) None of these

Answer 1

2) weighted means of prices of certain item has increased 3-3 times..............

Answer 2

(weighted means of prices of certain item has increased 3-3 times)