Calculate the selling price of product

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Procta and allan sells Product A with the following prices:

Year                         2003                 2004                   2005                   2006

Price($)                    40.96                46.08                  57.60                  50.40

(a) Calculate the prices of Product A for years 2004 to 2006 as a chain base index.

(b) Giving your answers correct to four significant figures, calculate the index of prices for Product A for the years 2003 to 2006 with year 2003 as the base year.

The price relative for Product P for year 2003 with 2002 as the base year is 1.28.

(c) Calculate the selling price of Product P in year 2002

Reference no: EM131083219

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