An accountancy firm uses 4 different software packages and calculates a price index to

Question

monitor yearly software licensing costs. The table below shows the price per licence
and the number of users to be licenced for each of the four packages used by the firm in
the years 2018, 2019 and 2020

----------2017 ------------------------------------------------------------------2018 -------------------------------------------------------------- 2019
-----------Numbers of users (Q) ----Price per Licence in Euro (P)|------------Numbers of users (Q) ----Price per Licence in Euro (P) |-------Numbers of users (Q) ----Price per Licence in Euro (P)

Package 1|18 ----------24.72 ------------------------------------------------------|19-------------------25.60|-------------------------------------------|16--------27.69

Package 2|12----------38.20--------------------------------------------------------|10-------------------38.95|-------------------------------------------|11--------39.05

Package 3|10----------21.50---------------------------------------------------------|13------------------21.85|-------------------------------------------|8---------22.30

Package 4|15----------18.55--------------------------------------------------------|12--------------------17.40|------------------------------------------|13--------18.60

Question: Calculate Laspeyre's price index for the years 2019 and 2020 using 2018 as a base year

Answer 1

This is the table

ibb.co/MPJXXkc