 Hello and welcome to the session. In this session we will discuss the question which says that construct chain-based index from the following data and the data is given to us in which the years are given as 1995, 1996, 1997, 1998, 1999, 2000 and the corresponding prices in dollars in the particular years are given as 52, 58, 62, 60, 65 and 70. Now before starting the solution of this question we should know a result and that is by chain-based method we can find out the link relative which is equal to current years price over previous years price into 100. We can find out the chain-based index which is equal to the link relative of the current year into the chain index of the previous year which will work out as a key idea for solving out the given question. And now we will start with the solution. Let us draw a table of the given data in which we will find the link relatives and the chain-based indices. So we have drawn a table for the given data. In the first column we have written the years. In the second column the prices in the particular years in dollars. And in the next column we will find the link relatives and in the last column we will find the chain-based index numbers. Now by using the result which is given in the key idea we can find out the link related to the chain-based index numbers. Now here 1995 is the first year and this year will be the base year for itself. Therefore the link relative will be equal to the current year price that is 52 over the previous years price that is also 52 into 100. So this is equal to 100. Now the chain-based index number for the first year that is the year 1995 is 100. Now for the year 1996 the link relative will be equal to current year price that is 58 over the previous years price that is 52 into 100 which is equal to 111.5 and the chain-based index number will be equal to the link relative of the current year that is 111.5 into the chain-based index of the previous year that is 100 over 100. So this is equal to 111.5 and now for the year 1997 the link relative will be equal to 62 over 58 into 100 which is equal to 106.9 and the chain-based index number will be equal to the link relative of the current year that is 106.9 into the chain-based index of previous year that is 111.5 over 100 which is equal to 119.2 for 1998 the link relative is 60 over 62 into 100 which is equal to 96.8 and the chain-based index number is equal to 96.8 into 119.2 over 100 which is equal to 115.4 and now for the year 1999 the link relative is 65 over 60 into 100 which is equal to 108.3 and the chain-based index number is 108.3 into 115.4 over 100 which is equal to 124.98 and for the year 2000 the link relative is 17 over 65 into 100 which is equal to 107.7 and the chain-based index number is equal to the link relative of current year that is 107.7 into the chain-index of previous year that is 124.98 over 100 and this is equal to 134.6 so we have constructed the chain-based index from the given data by using the chain-based method and this is the solution of the given question so that's all for this session. Hope you all have enjoyed this session.