Balbharati Maharashtra State Board12th Commerce Maths Solution Book PdfChapter 5 Index Numbers Ex 5.3 Questions and Answers.
Maharashtra State Board 12th Commerce Maths Solutions Chapter 5 Index Numbers Ex 5.3
Calculate the cost of living index in problems 1 to 3.
Question 1
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Solution & Step-by-Step Answer:
Question 2
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Solution & Step-by-Step Answer:
Question 3
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Solution & Step-by-Step Answer:
Base year weights (W) and current year price relatives (I) are given in problems 4 to 8. Calculate the cost of living index in each case.
Question 4
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Solution & Step-by-Step Answer:
ΣW = 20, ΣIW = 1540 CLI = = = 77
Question 5
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Solution & Step-by-Step Answer:
ΣW = 17, ΣIW = 3500 CLI = = = 205.88
Question 6
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Solution & Step-by-Step Answer:
ΣW = 150, ΣIW = 25400 CLI = = = 169.33
Question 7
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Solution & Step-by-Step Answer:
ΣW = x + 18, ΣIW = 100x + 3600 CLI = 150 ∴ = 150 ∴ = 150 ∴ 100x + 3600 = 150x + 2700 ∴ 50x = 900 ∴ x = 18
Question 8
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Find y if the cost of living index is 200
Solution & Step-by-Step Answer:
ΣW = y + 18, ΣIW = 300y + 2200 CLI = 200 ∴ = 200 ∴ = 200 ∴ 300y + 2200 = 200y + 2800 ∴ 100y = 600 ∴ y = 6
Question 9
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The cost of living Index numbers for years 1995 and 1999 are 140 and 200 respectively. A person earns ₹ 11,200 per month in the year 1995. What should be his monthly earning in the year 1999 in order to maintain his standard of living as in the year 1995?
Solution & Step-by-Step Answer:
CLI (1995) = 140 CLI (1999) = 200 Income (1995) = 11200 Income (1999) = ? For year 1995 ∴ Real Income = = × 100 = ₹ 8000 For year 1999 ∴ Real Income = ∴ 8000 = ∴ Income = 16000 ∴ Income in 1999 = ₹ 16000