Skip to main content
Super TutorResources
Chapter 1 of 9
QuestionsNotesFlashcardsSummaryFormulasQuizConceptsSyllabusPlan
Chapter Summary

Index Number

Gujarat Board · Class 12 · Statistics

Summary of Index Number for Gujarat Board Class 12 Statistics. Key concepts, important points, and chapter overview.

5 concepts

Interactive on Super Tutor

Studying Index Number? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for chapter summary and more.

Try Super Tutor — Free

1,000+ Class 12 students started this chapter today

Overview

An Index Number is a statistical tool that measures the relative percentage change in the value of a variable (price, quantity, production, etc.) for a current period compared to a fixed base period. Rather than using absolute differences, index numbers use ratios (relative measures), making them un

Key Concepts

An index number is the percentage

An index number is the percentage of relative change in the value of a variable for the current period compared to the base period. **Formula:** Inde

1

1. **Unit-free (Dimensionless):** Since it is a ratio, index numbers have no units. Prices in ₹/kg and ₹/litre can both be compared. 2. **Comparative

Index numbers serve as economic indicators

Index numbers serve as economic indicators across 11 major fields: 1. **Trade Index** – General economic activity 2. **Wholesale Price Index (WPI)** –

**Definition

**Definition:** A single stable, normal year is selected as a constant base year. All subsequent years are compared to this fixed year. **Formula:**

**Definition

**Definition:** For each year, the immediately preceding year is taken as the base year. The base keeps 'chaining' forward. **Formula:** Chain Base I

Learning Objectives

  • Understand the definition, meaning, and characteristics of index numbers
  • Identify the uses of index numbers in economics, trade, and social planning
  • Distinguish between Fixed Base Method and Chain Base Method for selecting base year
  • Convert Fixed Base Index Numbers to Chain Base Index Numbers and vice versa
  • Compute index numbers using Laspeyre's, Paasche's, and Fisher's formulae

Frequently Asked Questions

What are the important topics in Index Number for Gujarat Board Class 12 Statistics?
Key topics in Index Number include Index Number – Complete Chapter Overview, Which Formula to Use? — Index Number Decision Tree, Index Number - Complete Chapter Overview. These are the concepts Gujarat Board Class 12 examiners draw on most — study them first, then practise related questions.
How to score full marks in Index Number — Gujarat Board Class 12 Statistics?
Start by understanding all key concepts. Practise previous year questions from this chapter. Revise formulas and definitions regularly. Use flashcards for quick revision before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Index Number

All 9 chapters — Gujarat Board Class 12 Statistics Chapter Summary

For serious students

Get the full Index Number chapter — for free.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for Gujarat Board Class 12 Statistics.

Try Super Tutor Free
Try the full chapter — Free