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INDEX NUMBER — Statistics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceStatisticsINDEX NUMBER1 Mark
Question
What is index number ?
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Answer

The numerical measure which expresses the relative percentage change in the value of a variable in the current year as compared to some fixed year is known as index number. In short
Index number $=\frac{\text { Value of the variable in current year }}{\text { Value of the variable in base year }} \times 100$

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