The formula for simple aggregative price index is: MCQ with Answer and Explanation

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The formula for simple aggregative price index is:

A. (Σp₁ / Σp₀) × 100

B. (Σp₁q₀ / Σp₀q₀) × 100

C. (Σp₀ / Σp₁) × 100

D. (Σp₁q₁ / Σp₀q₁) × 100

Answer: Option A

Solution (By JKSSB Mock Tests)

Simple aggregative index sums current prices and divides by sum of base prices, multiplied by 100.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

Infant Mortality Rate is considered a sensitive indicator of:

A. Migration patterns

B. Overall health status and socio-economic development

C. Urbanization rate

D. Fertility level

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Correct Answer: Option B

Explanation:
IMR reflects the quality of healthcare, nutrition, and living conditions, especially for the most vulnerable.

This question belongs to: Accountancy and Statistics Statistics

Question #2

A census is typically conducted at what interval in most countries?

A. Every 5 years

B. Every 20 years

C. Every 10 years

D. Every year

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Correct Answer: Option C

Explanation:
Most nations, including India and the USA, conduct a full population census decennially (every 10 years) to balance comprehensiveness with cost and logistical feasibility.

This question belongs to: Accountancy and Statistics Statistics

Question #3

In a set of 10 values, the sum of deviations from 5 is 20 and from 6 is 10. The mean is:

A. 8

B. 5.5

C. 6

D. 7

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Correct Answer: Option D

Explanation:
Σ(x-5)=Σx -50=20 → Σx=70. Mean=7. Check: Σ(x-6)=70-60=10, correct.

This question belongs to: Accountancy and Statistics Statistics

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