Calculate Price Index Number from the given data :CommodityABCDPrice in 2015 (₹)616244Price in 2020 (₹)818286
Q.3 (v) Calculate Price Index Number from the given data :
| Commodity | A | B | C | D |
|---|---|---|---|---|
| Price in 2015 (₹) | 6 | 16 | 24 | 4 |
| Price in 2020 (₹) | 8 | 18 | 28 | 6 |
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Answer: \(P_{01} = 120\)
Take 2015 as base year (\(p_0\)) and 2020 as current year (\(p_1\)).
| Commodity | Price in 2015 \((p_0)\) | Price in 2020 \((p_1)\) |
|---|---|---|
| A | 6 | 8 |
| B | 16 | 18 |
| C | 24 | 28 |
| D | 4 | 6 |
| Total | \(\sum p_0 = 50\) | \(\sum p_1 = 60\) |
\(P_{01} = \dfrac{\sum p_1}{\sum p_0} \times 100 = \dfrac{60}{50} \times 100 = 120\)
Prices in 2020 are 20% higher than in 2015.
Doubtly AI
· 28 Oct 2026
AI-verified · Oct 2026
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