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Paasche price index

1. Calculate Paasche price indexes for 2001 and 2002 using the following data and 1997 as the base year.
2001 2002
Item 1997 Price Price Quantity Price Quantity
1 $22.50 $27.80 13 $28.11 12
2 10.90 13.10 5 13.25 8
3 1.85 2.25 41 2.35 44

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The solution shows detailed calculations of Paasche price indexes for 2001 and 2002.

$2.19