Most commonly used index number is:

Volume index number

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Value index number

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Price index number

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Simple index number

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Solution

The correct option is B Price index number
Price Index Number is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time. It is the most commonly used index number.

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Similar questions

What do you mean by index number? Explain the types and uses of index numbers.

A weighted index number is generally preferred to an unweighted index number. Why?

Index Numbers	127	142	186	172	115
Weight	5	4	3	6	8

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