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Question

Find the consumer price index number for the year 2010 using year 2000 as the base year by using method of weighted aggregates
CommodityABCDE
Year 2000 price
(in Rs. per unit)
16400.505.122.00
Year 2010 price
(in Rs. per unit)
20600.506.251.50
Weights40255.0020.0010.00

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Solution

Commodity Year 2000 price
base Price
(P0)
Year 2010 price
current price
(P1)
Weights
(W)
P0WP1W
A16.0020.0040640.0800.0
B40.0060.00251000.01500.0
C0.500.50052.52.5
D5.126.2520102.4125.0
E2.001.501020.015.0
P0W=1764.9 P1W=2442.5

Hence, the price index using weighted aggregate

P01=P1WP0W×100=2442.51764.9×100=138.39

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