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Important Questions

Index Numbers — Important Questions

ICSE · Class 11 · Economics

65 important questions from Index Numbers for ICSE Class 11 Economics, with answers. Includes multiple choice and multiple correct questions.

65 questions40 flashcards2 formulas & key relations5 concepts

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65 Questions·
multiple choicemultiple correct

Important Questions from Index Numbers

1multiple choice
3 marks

A consumer price index is constructed by the Aggregate Expenditure Method. If ΣP1Q0 = 3,780 and ΣP0Q0 = 2,800, what is the CPI?

Show answer

135.00

Consumer Price Index by Aggregate Expenditure Method is CIP = ΣP1Q0/ΣP0Q0 × 100. So CIP = 3780/2800 × 100 = 135.00. The CPI is 135.

2multiple choice
3 marks

A family budget method gives ΣRW = 189,000 and ΣW = 1,400. What is the consumer price index?

Show answer

135.00

Consumer Price Index by Family Budget Method is CIP = ΣRW/ΣW. So CIP = 189,000/1,400 = 135.00. The consumer price index is 135.

3multiple choice
3 marks

A worker earns money wages of ₹9,600 and the consumer price index is 240. What is the real income of wages?

Show answer

₹4,000

Real Income of Wages = (Money Income or Wages/Consumer Price Index) × 100. So real income = (9600/240) × 100 = ₹4,000. The real income is ₹4,000.

4multiple choice
3 marks

The previous year's WPI is 160 and the current year's WPI is 200. What is the rate of inflation?

Show answer

25%

Rate of Inflation = [(Current Year WPI - Previous Year WPI)/Previous Year WPI] × 100. So = (200 - 160)/160 × 100 = 25%. The rate of inflation is 25%.

+61 more questions on Index Numbers (ICSE Class 11 Economics)

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What are the important topics in Index Numbers for ICSE Class 11 Economics?
Key topics in Index Numbers include Meaning and Characteristics of Index Numbers, Types of Index Numbers, Uses of Index Numbers, Problems in Construction of Index Numbers. Study these first, then practise questions on each for Class 11 exams.
How many important questions are there in Index Numbers?
Super Tutor has 65 practice questions for Index Numbers, including multiple choice, multiple correct questions. A sample with answers is on this page.

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

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All ICSE Class 11 Economics Important Questions

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