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Study Stuff for MCA Examinations - NIMCET
Study Stuff for MCA Examinations - NIMCET
Previous Year Question (PYQs)
Given that
$\sum p_0 q_0 = 700$,
$\sum p_0 q_1 = 1450$,
$\sum p_1 q_0 = 855$,
$\sum p_1 q_1 = 1300$.
Where subscripts $0$ and $1$ are used for base year and current year respectively.
The Laspeyres’ price index number is:
Solution
Laspeyres price index:
$L=\frac{\sum p_1 q_0}{\sum p_0 q_0}\times 100$
Substitute values:
$L=\frac{855}{700}\times 100$
$=1.2214\times 100$
$=122.14$
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