Stats problem..index numbers

KIndly solve the below with detailed solution:

if the ratio between laspeyers index no. and paasches index no is 28:27, then the missing figure in the following table 'p' is:

commodity             base yr                                         current yr

                         price           quantity                        price quantity

x                        L                  10                                2            5

y                        L                   5                                 P              2

Replies (3)

 

Nearly 3 years elapsed since I cleared my CPT. Can't remember anything regarding this question. Why don't you ask your teacher?

 

Laspeyer’s index =( ∑PnQ0)/ ( ∑P0Q0)  =  (2*10 + P*5) /(L*10 + L*5 ) = (20 + 5P)/(15L) = (4 + P)/3L

Paasche’s index = ( ∑PnQn)/ ( ∑PnQn) = (2*5 + P*2)/(L*5 + L*2) = 2*(5+p)/(7L)

Now their ratio is 28:27 implies 7*(4+P)/(6*(5+p)) = 28/27 solving for P gives P = 4

thanx a lot tejaswi....

Mr. Akash thanx a lot for ur cocern if u dnt knw t answers its okay,, there is no impounded duty on u to comment on for this problem....if i hd a tutorials i wud hv made the best use of it.

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