16.15 The Guru Price Index. A guru purchases only olive oil, loincloths, and copies of the Atharva Veda, from which he selects mantras for his disciples. Here are the quantities and prices of his purchases in 1985 and 2015:
Item | 1985 quantity |
1985 price |
2015 quantity |
2015 price |
---|---|---|---|---|
Olive oil | 20 pints | $2.50/pint | 18 pints | $7.50/pint |
Loincloth | 2 | 2.75 each | 3 | 4.00 each |
Atharva Veda |
1 | 10.95 | 1 | 18.95 each |
From these data, find the fixed market basket Guru Price Index (1985 = 100) for 2015.