pathfinder - The Institute of Chartered Accountants of Nigeria

PATHFINDERP 0 Q 0 P 1 Q 1 Q 0 + Q 1 P 1 (Q 0 + Q 1 ) P 0 (Q 0 + Q 1 )5,000 55 8,000 55 110 880,000 550,0004,000 97 7,000 97 194 1,358,000 776,000300 22 700 22 44 30,800 13,200250 25 750 20 45 33,750 11,2501,000 50 1,800 60 110 198,000 110,0002,500,550 1,460,450EXAMINERS‟ REPORTIm2,500,550100 171.22%1,460,450The question tests candidates understanding and application of Index Numbers.Topic appears very familiar with candidates as about 95% of them attempted thisquestion.Performance was well above average. About 50% of the candidates who attempted thequestion scored 50% and above.Inadequacy came from the following: Many candidates could not describe the right formulae required for solving theproblem. Inability to identify the base year required for the calculation.It is recommended that: Candidates should improve on their preparation. Strive to master relevant formulae.INTERMEDIATE EXAMINATION - NOVEMBER 201027