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Important Questions

Index Numbers and Time Based Data — Important Questions

CBSE · Class 12 · Applied Mathematics

49 important questions from Index Numbers and Time Based Data for CBSE Class 12 Applied Mathematics, with answers. Written for the board exams 2027.

49 questions21 flashcards5 formulas & key relations5 concepts

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49 Questions·
multiple choicemultiple correcttext answerorderingtrue falsematchingcase studycase study short answer

Important Questions from Index Numbers and Time Based Data

1multiple correct

Which of the following are characteristics of Laspeyres' Index? (Select all correct answers)

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Uses base year quantities as weights, Formula: Σp₁Q₀/Σp₀Q₀ × 100, May overestimate cost of living changes

Laspeyres' Index uses base year quantities (Q₀) as fixed weights. The formula is Σp₁Q₀/Σp₀Q₀ × 100. It tends to overestimate price changes because it doesn't account for substitution effects. It does not satisfy the time reversal test.

2text answer

Calculate Laspeyres' price index for the data: Item A: p₀=₹10, p₁=₹12, q₀=5 units; Item B: p₀=₹20, p₁=₹25, q₀=3 units.

3text answer

If Fisher's Ideal Index is 115 and Laspeyres' Index is 120, what is Paasche's Index?

4multiple correct

Which of the following statements about time series components are correct? (Select all that apply)

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Secular trend shows long-term direction, Seasonal component repeats within a year, Cyclical component has periods longer than a year

Secular trend shows long-term movement. Seasonal patterns repeat annually. Cyclical patterns have periods > 1 year. Irregular components are random and unpredictable. Mathematical techniques can decompose time series into these components.

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What are the important topics in Index Numbers and Time Based Data for CBSE Class 12 Applied Mathematics?
Key topics in Index Numbers and Time Based Data include Concept and Types of Index Numbers, Simple (Unweighted) Methods, Weighted Aggregative Methods, Tests of Adequacy. Study these first, then practise questions on each for the CBSE Class 12 board exam.
How many important questions are there in Index Numbers and Time Based Data?
Super Tutor has 49 practice questions for Index Numbers and Time Based Data, including multiple choice, multiple correct, text answer, ordering, true false, matching, case study, case study short answer questions. A sample with answers is on this page.

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All CBSE Class 12 Applied Mathematics Important Questions

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