OP Malhotra Class-11 Index Numbers S.Chand ISC Maths Solution Chapter-30. Step by step Solutions of OP Malhotra S.Chand ISC Class-11 Mathematics with Exe-30 (a), 30 (b), With Chapter Test. Visit official Website CISCE for detail information about ISC Board Class-12 Mathematics.
OP Malhotra Class-11 Index Numbers S.Chand ISC Maths Solution
| Class: | 11th |
| Subject: | Mathematics |
| Chapter : | Ch-30 Index Numbers of Section -C |
| Board | ISC |
| Writer | OP Malhotra |
| Publications | S.Chand Publications 2020-21 |
–: Select Topics :-
OP Malhotra Class-11 Index Numbers S.Chand ISC Maths Solution
Index Number
An index number is a statistical device for measuring changes in the magnitude of a group of related variables. It represents the general trend of diverging ratios from which it is calculated.
According to Croxton and Cowden, “Index numbers are devices for measuring difference in the magnitude of a group of related variables.”
Types of Index Number
- Price Index Number: It evaluates the relative differences in costs between two particular points in time.
- Quantity Index Number: It measures differences in the physical quantity of products manufactured, bought or sold of one item or group of items.
Consumer Price Index or Cost of Living Index Number
The consumer price index is the index number which measures the averages change in prices paid by the specific class of consumers for goods and services consumed by them in the current year in comparison with base year.
Construction of Consumer Price Index
- Selection of the consumer class
- Information about the family budget
- Choice of base year
- Information about prices
- Weightage – There are two ways of according weights
- Quantity weight
- Expenditure weight
Agricultural Production Index
Index number of agricultural production is weighted average of quantity relatives.
Sensex
Sensex is the index showing changes in the Indian stock market. It is a short form of a Bombay Stock Exchange sensitive index. It is constructed with 1978-79 as the reference year or the base year. It consists of 30 stocks of leading companies in the country.
Purpose of Constructing Index Number
- Purpose of constructing index number of prices is to know the relative change or percentage in the price level over time. A rising general price level over time is a pointer towards inflation, while a falling general price level over time is a pointer towards deflation.
- Purpose of constructing index number of quantity is to know relative change or percentage change in the quantum or volume of output of different goods and services. A rising index of quantity suggests a rising level of economic activity and vice-versa.
Wholesale Price Index (WPI)
The Wholesale Price Index (WPI) measures the relative changes in the prices of commodities traded in the wholesale markets. In India, the wholesale price index numbers are constructed on weekly basis.
Consumer Price Index or Cost of Living Index Number
The consumer price index is the index number which measures the averages change in prices paid by the specific class of consumers for goods and services consumed by them in the current year in comparison with base year.
Exe-30 (a)
OP Malhotra Class-11 Index Numbers S.Chand ISC Maths Solution
Page 30-10 to 30-12
Question 1:
Using the simple arrangement method. Calculate the price index number the following data :
………………..
Question 2:
……………………
…………………..
………………….
Question 14:
Construct the consumer price index number for 1990……………………………. for the following data.
…………………..
Exe-30 (b)
OP Malhotra Class-11 Index Numbers S.Chand ISC Maths Solution
Page 30-19 to 30-22
Question 1:
Explain briefly what is meant by a weighted average calculate a cost of leaving under from the following data of price and weights.
……………………
Question 2:
…………………….
……………………
……………………
Question 19:
Calculate the index number .
………………………
Chapter Test
OP Malhotra Class-11 Index Numbers S.Chand ISC Maths Solution
Page 30-24 to 30-25
Question 1:
Calculate the price index number :
……………………..
Question 2:
……………………
……………………
…………………….
Question 4:
Calculate the index number & find the value of x & y
……………………….
-: End of Index Numbers Solution :-
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