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INDEX NUMBER — Statistics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceStatisticsINDEX NUMBER1 Mark
Question
Define the cost of living index number.
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Answer

The number showing the percentage of relative changes in the cost of living of the people of a certain section of the society in the current year $($period$)$ as compared to the base year $($period$)$ is called the cost of living index number.

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