Tr Jain & Vk Ohri 2015 for Class 11 Commerce Economics ...
Here, we construct the index number for each of the years from 2012-2014. According to the Price Relative Method, price index is calculated using the following formula. P 01 = Σ P 1 P 0 × 100 N Substituting the values in the formula. P 01 = 456. 98 4 = 114. 245.