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From the prices and quantities of the base and current year Laspeyres and Bowley Price Indices were calculated as 124 and 130 respectively. Find the Paasche price index for the same data.
1. 127
2. 136
3. 118
4. 121

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Correct Answer - Option 2 : 136

Given

Laspeyres and Bowley Price Indices are 124 and 130

Concept

According to Dorbish and bowley the simple arithmetic mean of two indices namely Laspeyres and Passche gives the Bowley price index

P01 = (L + P)/2

P01 = Bowley price indices

L =  Laspeyres Index

P = Passche INDEX

Calculation

According to question

⇒ 130 = (124 + P)/2

⇒ 260 = 124 + P

⇒ P = 136

∴ The Paasche price index for the same data IS 136

 

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