Methods of Constructing Index Numbers

IMPORTANT

Methods of Constructing Index Numbers: Overview

This Topic covers sub-topics such as Simple Aggregative Method, Simple Average of Price Relative Method and, Unweighted Index Numbers

Important Questions on Methods of Constructing Index Numbers

HARD

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 1

Calculate the simple aggregate price index for the year $2013$ , and $2014$ by considering $2012$ as the base year.

Categories of employees	Salary per month
Categories of employees	$2012$	$2013$	$2014$
A	$6000$	$6500$	$7200$
B	$12000$	$14000$	$16000$
C	$50000$	$64000$	$80000$
D	$70000$	$78000$	$84000$

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 2

Calculate the simple aggregate price index for the year 2014, and 2015 taking 2013 as the base year.

Categories of employees	Salary per month
Categories of employees	$2013$	$2014$	$2015$
A	$4000$	$4300$	$4800$
B	$13000$	$18000$	$26000$
C	$55000$	$54000$	$85000$
D	$67000$	$68000$	$86000$

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 3

Calculate index number from the following data by simple aggregate method taking prices of 2015 as base.(Answer upto two decimal values)

Commodity	Units	Price per kg
		$2015$	$2016$
Wheat	Quintal	$225$	$265$
Rice	Quintal	$310$	$425$
Pulses	Quintal	$420$	$510$
Milk	Liter	$4$	$5$
Clothing	Meter	$6$	$7$

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IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 4

In simple aggregate method, the aggregate price of all items in the given year is expressed as percentage of the same in the

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 5

Calculate the simple aggregate price index for the year $2014$ taking $2012$ as the base year.(Answer up to two decimal values)

Categories of employees	Salary per month
Categories of employees	$2012$	$2014$
A	$6000$	$7200$
B	$12000$	$16000$
C	$50000$	$80000$
D	$70000$	$84000$

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 6

Calculate the simple aggregate price index for the year $2013$ taking $2012$ as the base year.(Answer up to two decimal values)

Categories of employees	Salary per month
Categories of employees	$2012$	$2013$
A	$6000$	$6500$
B	$12000$	$14000$
C	$50000$	$64000$
D	$70000$	$78000$

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 7

Calculate the price index number by simple average of price relatives based on geometric mean from the following data.Number of items $N = 5, \sum p = 686.7$ and $\sum \log p = 10.6515$ .

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 8

Calculate the price index number by simple average of price relatives based on arithmetic mean from the following data.Number of items $N = 5, \sum p = 686.7$

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IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 9

Calculate the simple aggregative price Index from the following data $\sum p_{1} = 465, \sum p_{0} = 220$ .

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IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 10

Calculate the simple aggregative price Index from the following data $\sum p_{1} = 360, \sum p_{0} = 290$ .

EASY

IMPORTANT

mathematics>Index Numbers>Methods of Constructing Index Numbers> Q 11

Find the index number for the following data by simple aggregate method:

Commodity	Base price	Current price
Rice	$50$	$60$
Meat	$150$	$160$
LPG	$350$	$400$
Fish	$100$	$120$

Methods of Constructing Index Numbers

Methods of Constructing Index Numbers: Overview

Important Questions on Methods of Constructing Index Numbers

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