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25. From the following table by the method of relatives using Arithmetic mean the price Indexnumber isCommodityWheat MilkFishsugarBase Price58 256Current Price710 32 12(a) 140.35(b) 148.95(c) 140.75(d) None of these |
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Answer» GIVEN : Table showing BASE Price and CURRENT Price of few commodities. To Find : price Index number using method of relatives using Arithmetic mean (a) 140.35 (b) 148.95 (c) 140.75 (d) None of these Solution: Commodity Base Price current Price Relative Price Wheat 5 7 (7/5) * 100 = 140 MILK 8 10 (10/8) * 100 = 125 Fish 25 32 (32/25) * 100 = 128 sugar 6 12 (12/6) * 100 = 200 Total 593 price Index number by the method of relatives using Arithmetic mean = 593/4 = 148.25 None of these Learn More: Net monthly salary of an employeewas 3,000. The consumer ... In 1976 the average price of a commodity was 20% more than that in ... |
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