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Properties of Set Operation

Laspeyres Pri...

Question

Laspeyres Price Index Number = ?

A

220.00

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B

216.30

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C

219.12

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D

221.98

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Solution

The correct option is D $221.98$
Laspeyres Price Index Number
$P_{01}^{l} = \frac{Σ P_{1} Q_{0}}{Σ P_{0} Q_{0}} \times 100 = \frac{404}{182} \times 100 = 221.98$

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Q. Which of these method of index number uses arithmetic average of the Laspeyres and Paasche's index.

Laspeyres' method is generally preferred over Paasche’s method because Laspeyres' method involves collecting data for just one year which is the base year whereas Paasche’s requires collecting data for every year the index number is required.

Q. From the following data compute Laspeyres' ideal quantity index.

Items	$2009$	$2009$	$2010$	$2010$
	Price (Rs.)	Total value (Rs.)	Price (Rs.)	Total value (Rs.)
$A$	$5$	$50$	$4$	$48$
$B$	$8$	$48$	$7$	$49$
$C$	$6$	$18$	$5$	$20$

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