Index Numbers — Formula Sheet
ICSE · Class 11 · Economics
2 formulas from Index Numbers (ICSE Class 11 Economics) on one page, grouped by topic. Part of the ICSE Class 11 Economics syllabus.
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Formulas and Key Relations
Key relations
This unweighted method uses Index Number (P01) = ΣP1/ΣP0 × 100, where P1 is the current year price and P0 is the base year price.
This method first calculates price relatives using R = (P1/P0)×100 and then finds the average with P01 = ΣR/N.
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