Following is some information regarding a family-s expenditure-WineWlinetext 2000 Prices Rs - 2000 - 500 - 1000 - 400 - 300 1Wline1990 Prices Rs - 1600 - 250 - 600 - 300 - 200 1 Wlinelend array What is the cost of living index of the year 2000 as compared with the year 1990 -A- 145B- 146C- 144D- 147

The correct option is A 145 ∑ (W ×P_1/P_0) × 100 = [40 × (2000/1600) + 10 × (500/250) + 15 × (1000/600) + 15 × (400/300) + 20 × (300/200)] × 100 = (50 + ...

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Byju's Answer

Standard XI

Statistics

Consumer Price Index

Following is ...

Question

Following is some information regarding a family’s expenditure:

$\begin{matrix} Expenses & Food 40 % & Fuel 10 % & Clothing 15 % & Rent 15 % & Misc 20 % 2000 Prices (Rs) & 2000 & 500 & 1000 & 400 & 300 1990 Prices (Rs) & 1600 & 250 & 600 & 300 & 200 \end{matrix}$

What is the cost of living index of the year 2000 as compared with the year 1990?

145

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146

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144

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147

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Solution

The correct option is A
145

$\sum (W \times \frac{P_{1}}{P_{0}}) \times 100 = [40 \times (\frac{2000}{1600}) + 10 \times (\frac{500}{250}) + 15 \times (\frac{1000}{600}) + 15 \times (\frac{400}{300}) + 20 \times (\frac{300}{200})] \times 100 = (50 + 20 + 25 + 20 + 30) \times 100 = 145 \times 100 P_{01} = [\sum (W \times \frac{\frac{P_{1}}{P_{0}})}{\sum W}] \times 100 = \frac{(145 \times 100)}{100} = 145$
Thus the cost of living has gone up 1.45 times in 2000 as compared with 1990.

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Similar questions

Following is some information regarding a town’s expenditure:

$\begin{matrix} Expenses on items & Food 50 % & Fuel 8 % & Clothing 22 % & Rent 5 % & Misc 15 % Price (in Rs.)in 2009 & 2200 & 301 & 912 & 500 & 247 Price (in Rs.)in 1987 & 1504 & 125 & 333 & 300 & 200 \end{matrix}$

What is the cost of living index of the year 2000 as compared with the year 1990?

Following is some information regarding a town’s expenditure:

$\begin{matrix} Expenses on items & Food 43 % & Fuel 7 % & Clothing 27 % & Rent 13 % & Misc 10 % Price (in Rs.)in 2014 & 1706 & 341 & 1012 & 950 & 347 Price (in Rs.)in 1982 & 1004 & 122 & 334 & 249 & 200 \end{matrix}$

What is the cost of living index of the year 2014 as compared with the year 1982?

An enquiry into the budgets of the middle class families in a certain city gave the following information:

Expenses on items	Food 35%	Fuel 10%	Clothing 20%	Rent 15%	Misc. 20%
Price (in Rs) in 2004	1500	250	750	300	400
Price (in Rs) in 1995	1400	200	500	200	250

What is the cost of living index of during the year 2004 as compared with 1995?

Q. Find the consumer price index number for the year 2010 using year 2000 as the base year by using method of weighted aggregates

Commodity	A	B	C	D	E
Year 2000 price (in Rs. per unit)	16	40	0.50	5.12	2.00
Year 2010 price (in Rs. per unit)	20	60	0.50	6.25	1.50
Weights	40	25	5.00	20.00	10.00

Q. The index number by the method of aggregates for the year

2010

, taking

2000

as the base year, was found to be

116

. If sum of the prices in the year

2000

is Rs.

300

, find the values of

x

and

y

in the data given below:

Commodity	$A$	$B$	$C$	$D$	$E$	$F$
Price in the year $2000$ (rs.)	$50$	$x$	$30$	$70$	$116$	$20$
Price in the year $2010$ (rs.)	$60$	$24$	$y$	$80$	$120$	$28$

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Following is some information regarding a family’s expenditure: ExpensesFood 40%Fuel 10%Clothing 15%Rent 15%Misc 20%2000 Prices (Rs)200050010004003001990 Prices (Rs)1600250600300200 What is the cost of living index of the year 2000 as compared with the year 1990?

The correct option is A 145 ∑(W×P1P0)×100=[40×(20001600)+10×(500250)+15×(1000600)+15×(400300)+20×(300200)]×100=(50+20+25+20+30)×100=145×100P01=[∑(W×P1P0)∑W]×100=(145×100)100=145 Thus the cost of living has gone up 1.45 times in 2000 as compared with 1990.