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The prices (in Rs) of different yarns (per kg) in two consecutive years are as follows.

 Commodity

 Silk 

 Cotton 

 Jute 

 Rayon 

 Price(in 2016)

 600 

 700

 400

 300

 Price (in 2017)

 700 

 600

 480

 270

By simple aggregative method, the net price changes in % is:


1. net increase of 2.5% in price.
2. net increase of 2% in price.
3. net decrease of 2% in price.
4. net decrease of 2.5% in price.

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Correct Answer - Option 1 : net increase of 2.5% in price.

Fomula used

Simple aggregative method = P01 = ∑p1/∑p0  × 100

∑p1 = Price of all commodities in the current year

∑p =  Price of all commodities in base year

Calculation:

∑p= 600 + 700 + 400 + 300 = 2000

∑p= 700 + 600 + 480 + 270 = 2050

Net Price changes in Percentage

= P01 = 2050/2000 × 100

= 102.5

∴ The price of commodities in 2017 is increased by 2.5% from 2016

Simple Aggregative Method = In it the total price of commodities in a given (current) year is divided by the total price of commodities in a base year and expressed as a percentage. 

Formula = 

P01 = ∑p1/∑p × 100

∑p1 = Price of all commodities in the current year

∑p =  Price of all commodities in base year

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