Q3

Table below shows the price of precious metals in 2011, 2013 and 2014. 2011 is the

reference year having an index value of 100. The weight place on gold is three times that of

either silver or platinum, because roughly three times as much gold is sold compared with

silver or platinum.

Table Q2(a)

Precious metals

Price (RM/g) in Year

2012

2013

2014

Gold

4 273

3 381

2 395

Silver

552

399

355

Platinum

1 007

762

466

(i)

Calculate a weighted index for the price of precious metals per g in 2014?

(4 marks)

(ii)

Determine the corresponding 2015 prices of precious metals if 201 is the

estimated index value in 2015?

(6 marks)