Question

The percentage increase in the price relatives of three items A,B and C are 315, 328 and 390 respectively . If the importance of these items has ratio 5:7:8, find the general price index number.​

Answer 1

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In most of the weighted index numbers, the weight pertains to base year.

In the Weighted Method of calculating index numbers, different goods are accorded weights according to the quantity brought. Laspeyre’s method uses base year’s quantities as weights, Paasche’s method uses current year’s quantities as weights and Fisher's method uses both base year as well as current year’s quantities as base.

When weights are not mentioned, so we use p0q0 as weights.

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Answer 2

weight pertains to base year.

In the Weighted Method of calculating index numbers, different goods are accorded weights according to the quantity brought. Laspeyre’s method uses base year’s quantities as weights, Paasche’s method uses current year’s quantities as weights and Fisher's method uses both base year as well as current year’s quantities as base.

When weights are not mentioned, so we use p0q0 as weights.

Hope it helps u

Mark me as brainliest