Question

The index number which adopts base year quantities is method of

Answer 1

Answer:

1. Simple Aggregative Method: In this method, the index number is equal to the sum of prices for the year for which index number is to be found divided by the sum of actual prices for the base year.

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Answer 2

Simple Aggregate Method:

We use this method to calculate the current year's aggregate amounts as a percentage of the base year's quantity.

The index number is then calculated by averaging this percentage value. As a result, the formula for this procedure is as follows:

Q01 = [(Summation of Q1/Summation of Q0) x 100]/N

where Q1 = current year's quantity

Q0 = prior year's quantity

N = total number of things