From the following data relating to prices of different items calculate the price indices for 1997 and 1998 on the basis of the prices of 1996. Units Prices in 1996 Prices in 1997 Prices in 1998 Items 12 15 kg. kg. P.M. Food 10 Fuel 3 Rent 300 400 500 Clothes metre 25 30 40 Misc. dozen 8. 10 15

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Q: From the following data compute the price index for 1998 on the basis of 1995 prices. Units of price…

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