After some consideration it has been decided to change the base year for the fuel index from 2000 to 2005.
(2000=100) (2005=100)
1998 92 A
1999 98 B
2000 100 C
2001 104 D
2002 110 E
2003 118 F
2004 120 G
2005 125 H
2006 115 I
Find the value of G.
137.5
96
145.65
116.5
132.5
To find the value of G, we need to first calculate the index number for 2004 (G) using the base year 2005=100.
Given:
2004 index based on 2000=100 is 120
2005 index based on 2005=100 is 125
To find the index number for 2004 based on 2005=100, we can use the formula:
Index number for 2004 = (2004 index based on 2000) * (2005 index based on 2005) / (2005 index based on 2000)
Plugging in the values:
Index number for 2004 = 120 * 125 / 100
Index number for 2004 = 150
Therefore, the value of G (Index number for 2004 based on 2005=100) is 150.