Wholesale Price Index (WPI) in India currently uses which base year? MCQ with Answer and Explanation

Wholesale Price Index (WPI) in India currently uses which base year?
A. 2015-16
B. 2004-05
C. 2020-21
D. 2011-12
Answer: Option D
Solution (By JKSSB Mock Tests)
As of recent revisions, India's WPI uses 2011-12 as the base year (index=100), updated periodically by the Office of Economic Advisor, Ministry of Commerce and Industry.

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Practice More Statistics Questions

Question #1
The harmonic mean of 1 and 1 is:
A. 1
B. 2
C. 0.5
D. Undefined

Correct Answer: Option A


Explanation:
HM = 2 / (1+1) = 1.

This question belongs to: Accountancy and Statistics Statistics
Question #2
Consider the following: I. Observation method can record attitudes. II. Interview method allows probing. III. Mailed questionnaire has high response rate. Which of the above is/are correct?
A. I, II and III
B. I and II only
C. II and III only
D. II only

Correct Answer: Option D


Explanation:
Observation cannot capture attitudes; mailed questionnaire often suffers from low response rate. Interview method does allow probing.

This question belongs to: Accountancy and Statistics Statistics
Question #3
The mean of 15 observations is 40. It was found that an observation 23 was wrongly recorded as 32. The correct mean is:
A. 38.5
B. 41.2
C. 40.6
D. 39.4

Correct Answer: Option D


Explanation:
Correct sum = 15 × 40 - 32 + 23 = 600 - 9 = 591. Correct mean = 591/15 = 39.4.

This question belongs to: Accountancy and Statistics Statistics