If the price index for 2021 (base 2020) is 110 and for 2022 (base 2021) is 105, the chain index for 2022 with base 2020 is: MCQ with Answer and Explanation

Question

If the price index for 2021 (base 2020) is 110 and for 2022 (base 2021) is 105, the chain index for 2022 with base 2020 is:

A. 105.0

B. 115.5

C. 110.0

D. 115.0

Answer: Option B

Solution (By JKSSB Mock Tests)

Chain index = 110 × (105/100) = 115.5.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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If the Laspeyres price index for a commodity basket is 140 and the Paasche is 135, Fisher's index is:

A. 140

B. 137.5

C. 137.47

D. 135

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Correct Answer: Option C

Explanation:
√(140×135) = √18900 ≈ 137.477.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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In the context of data collection, what is the fundamental difference between a schedule and a questionnaire?

A. A schedule is filled by the enumerator, while a questionnaire is filled by the respondent.

B. There is no difference; they are synonymous.

C. A questionnaire is always sent by mail, whereas a schedule is emailed.

D. A schedule contains more questions than a questionnaire.

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Correct Answer: Option A

Explanation:
Schedules require trained enumerators to ask questions and record answers, reducing non-response rates compared to questionnaires.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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If the sum of 20 observations is 400, what is the Arithmetic Mean?

A. 200

B. 20

C. 10

D. 40

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Correct Answer: Option B

Explanation:
Mean = Sum of observations / Number of observations = 400 / 20 = 20.

This question belongs to: Accountancy and Statistics Statistics

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