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Index Numbers (Part 2)

This document contains 11 questions related to calculating cost of living index numbers, quantity index numbers, price index numbers, and chain index numbers using data on prices and quantities of various commodities over different years. The questions test concepts like simple and weighted arithmetic means, factor reversal test, time reversal test, splicing series, and calculating index numbers with changing base periods. Fisher's ideal formula is used to calculate price and quantity index numbers in some questions.

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Mujahid Hussain
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555 views

Index Numbers (Part 2)

This document contains 11 questions related to calculating cost of living index numbers, quantity index numbers, price index numbers, and chain index numbers using data on prices and quantities of various commodities over different years. The questions test concepts like simple and weighted arithmetic means, factor reversal test, time reversal test, splicing series, and calculating index numbers with changing base periods. Fisher's ideal formula is used to calculate price and quantity index numbers in some questions.

Uploaded by

Mujahid Hussain
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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[1]

WEST BENGAL AUDIT AND ACCOUNTS SERVICE


(MAINS)
INDEX NUMBERS (PART-II)
1. From the following data, calculate cost of living index numbers: (A: 223.91)

Group Weight Index Number(Base : 2004-2005=100)


Food 50 241
Clothing 2 221
Fuel & Light 3 204
Rent 16 256
Miscellaneous 29 179

2. The group indices and the corresponding weights for the working class cost of
living index numbers in an industrial city for the years 2001 and 2005 are given
below :

Group Weight Group Index

2001 2005
Food 71 370 380
Clothing 3 423 504
Fuel, etc. 9 469 336
House Rent 7 110 116
Miscellaneous 10 279 283

Find the cost of living Index for 2001 & 2005. (353.20, 351.58)
3. Annual production (in million tonnes) for four commodities is given below :

Commodity Production in year Weights


2000 2004 2005
A 160 200 266 20
B 24 42 45 30
C 50 72 68 13
D 250 168 156 17

Calculate quantity index numbers for the years 2004 and 2005 with 2000 as base
year, using (a) simple arithmetic mean, and (b) weighted arithmetic mean of the
relatives. (127.8,134.55,138.04,147.235)

MATHEMATICS Prepared by MD SHAHROZE (WBCS GROUP – A)


[2]

4. Using the following data , show that Fisher’s Ideal Formula satisfies the Factor
Reversal Test:

Commodity Price (in Rs.) Per Unit Number of Units


Base Period Current Period Base Period Current Period
A 6 10 50 56
B 2 2 100 120
C 4 6 60 60
D 10 12 30 24
E 8 12 40 36

5. Calculate Fisher’s ideal Index using the following data and check whether it
satisfies the Time Reversal Test : (94.88)

Commodity 2004 2005


Quantity Price Quantity Price
X 50 32 50 30
Y 35 30 40 25
Z 55 16 50 18

6. Shift the base period of the following series of index numbers from 1995 to 2002 :

Year 1999 2000 2001 2002 2003 2004 2005


Index No. (Base 1995=100) 120 125 132 140 150 158 175

7. In 2001, an index number is 100, it rises 5% in 2002, falls by 2% in 2003, and


again rises 4% in 2004 and 6% in 2005. If rise and fall begin with respect to
previous year , find the index number for the given years shifting the base to
2004.

8. Splice the following two series of index members with (i) base 1995 and (ii) base
2000;

Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Series A 100 110 125 150 180 200 … … … … …
Series B … … … … … 100 105 90 120 140 160

MATHEMATICS Prepared by MD SHAHROZE (WBCS GROUP – A)


[3]

9. Compute the chain index numbers with 2001 prices as base, from the following
table the average wholesale prices of the commodities A,B,C for the years 2001-
2005

Average Wholesale Prices


Commodities 2001 2002 2003 2004 2005
A 20 16 18 35 21
B 25 30 24 36 45
C 20 25 30 24 30

10. An enquiry into the budgets of middle class families in a certain city gives the
following information : (WBA&AS MAINS 2017)

Expenses Food Fuel Clothing Rent Misc.


35% 10% 20% 15% 20%
Prices(2014) Rs.150 Rs.25 Rs.75 Rs.30 Rs.40
Prices(2015) Rs.145 Rs.25 Rs.65 Rs.30 Rs.45

What is the Cost of living Index number of 2015 as compared with that of 2014?
(97.87, declined by 2.13%)

11. Calculate price & quantity index numbers for 2010 with 2000 as base year from the
following data using fisher’s formula. (104.056,132.31) (WBA&AS MAINS 2020)

COMMODITY UNIT 2000 2010


QUANTITY PRICE(RS.) QUANTITY PRICE(RS.)
A KG 5 2.00 7 4.50
B QUINTAL 7 2.50 10 3.20
C DOZEN 6 8.00 6 4.50
D KG 2 1.00 9 1.80

MATHEMATICS Prepared by MD SHAHROZE (WBCS GROUP – A)

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