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Applications of Index Number: Weekly Quiz 100

The document contains information about price indices and percentages of usage for ingredients used in making cakes. It provides tables of price index data for years 2014 and 2015 and asks questions to calculate price indices, composite price indices, and expected costs. Specifically, it asks to: 1) Calculate the price of item S in 2014 given its price in 2015 was Rs. 80 and its price index was 120. 2) Calculate the price index of item P in 2014 based on 2013, given its price index in 2015 vs 2013 was 110. 3) Calculate the value of x and the price of the cake in 2014 if the price in 2015 was Rs. 500, given the composite price index was 110.

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24 views

Applications of Index Number: Weekly Quiz 100

The document contains information about price indices and percentages of usage for ingredients used in making cakes. It provides tables of price index data for years 2014 and 2015 and asks questions to calculate price indices, composite price indices, and expected costs. Specifically, it asks to: 1) Calculate the price of item S in 2014 given its price in 2015 was Rs. 80 and its price index was 120. 2) Calculate the price index of item P in 2014 based on 2013, given its price index in 2015 vs 2013 was 110. 3) Calculate the value of x and the price of the cake in 2014 if the price in 2015 was Rs. 500, given the composite price index was 110.

Uploaded by

david70830c
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Weekly Quiz

Applications of Index Number


1 Table 1 shows the price indices and percentage of usage of four items, P, Q, R and S, which
are the main ingredients in the maing of a t!pe of cae"
Items
Price index for the !ear #$$%
based on the !ear #$$&
Percentage of usage
P 1#' ($
Q x #$
R 1#$ 1'
S 1($ ('
Table 1
)a* +alculate
)i* the price of S in the !ear #$$& if its price in !ear #$$% is R, &&"-',
)ii* the price index of P in the !ear #$$% based on the !ear #$$1 if its price index in
the !ear #$$& based on the !ear #$$1 is 1#$"
.' mars/
)b* The composite index number of the cost in maing the cae for the !ear #$$% based
on the !ear #$$& is 110" +alculate
)i* the 1alue of x,
)ii* the price of the cae in the !ear #$$& if the corresponding price in the !ear #$$%
is R, '0"'$"
.' mars/
2 Table # shows the prices and the price indices for the four ingredients 2, 3, ,, and N, used
in maing a particular ind of cae" 4iagram 1 is a pie chart which represents the relati1e
amount of the ingredients 2, 3, , and N, used in maing the cae"
Ingredients
Price per 2g
)R,*
Price index for
the !ear #$$5
based on the
!ear #$$(
6ear #$$( 6ear #$$5
2 &"$$ %"$- p
3 &"$$ 7 1#1
, 1"5$ #"&$ 1'$
N r ("&$ -'
Table 2
Diagram 1
)a* 8ind the 1alue of p, 7 and r " .( mars/
)b* )i* +alculate the composite index for the cost of maing this cae in the !ear #$$5
based on the !ear #$$("
)ii* 9ence, calculate the corresponding cost of maing this cae in the !ear #$$( if
the cost in the !ear #$$5 was R, &$ .'
mars/
)c* The cost of maing this cae is expected to increase b! 0-: from the !ear #$$( to
the !ear #$$0" 8ind the expected composite index for the !ear #$$0 based on the
!ear #$$5 .# mars/
1
0
100
Q
I
Q
=
IW
I
W
=

N
M
L
K
80

100

120

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