Sandeep Garg Solutions Class 11 Economics Chapter 9 - Index Numbers

Sandeep Garg Class 11 Economics Solutions Economics Chapter 9 – Index Numbers are prepared by professional economics educators from the contemporary edition of Sandeep Garg Economics Class 11 textbook solutions.

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Here are some questions with solutions on Index numbers.

Sandeep Garg Solutions Class 11 – Chapter 9

Question 1

Arrange an index number for the year 2015 on the basis of 2010 using the simple aggregative method:

ANSWER:

P₀₁ =

P_{01 =}

P₀₁ = 132

Question 2

Form an index number using 2010 price:

ANSWER:

P₀₁ =

P_{01 =}

P₀₁ = 126.59

Question 3

Prepare an index number for 2014 on the basis of 2010 from the below data using aggregate expenditure method.

Answer:

The consumer price index for the year 2014 is

=

= 118.50

Question 4

Calculate the consumer index number by using the family budget method.

Answer:

The consumer price index for the current year as per family budget method is:

Question 5

Arrange an index for 2015 taking 2010 using a simple aggregate and price relatives method

Answer:

Simple Aggregate Method

=  240/180 × 100

= 133.33

Price Relative Method

Items	Year 2010 Price (P0)	Year 2015 Price (P1)	\(\begin{array}{l}R \,=\, \frac{P_{1}}{P_{0}} \, \times \, 100\end{array} \)
A	20	30	150
B	40	50	125
C	50	70	140
D	70	90	128.57
N= 4			= 543.57

Simple Average of Price Relatives

P₀₁ = 543.57/ 4

= 135.89

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