Question

Find the general index number using the following data about prices of different items in the year 2012 by taking the base year 2010.

item	A	B	C	D	E
unit	quintile	kilograme	Dozen	Meter	Liter
price of year 2010	110	50	40	80	20
price of year 2012	120	70	60	90	20

Answer 1

General Index number

\(=\frac{\sum \left(\cfrac{p_1}{p_0}\right)}{n} \times100\)

\(=\frac{6.1159}{5} \times100\)

= 122.32