Q.$\displaystyle\sum \dfrac{p_0 q_0}{p_1 q_1} \times 100$ is Value Index Number by Simple Aggregate Method.

The Simple Aggregate Price Index divides the sum of current-year prices by the sum of base-year prices and multiplies by $100$, i.e. $\dfrac{\sum p_1}{\sum p_0}\times 100$.

In the simple aggregate method, all the current-year prices are added together, all the base-year prices are added together, and the two totals are compared:

$P_{01} = \frac{\sum p_1}{\sum p_0} \times 100$

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The correct value index number by the simple aggregate method is $V_{01}=\dfrac{\sum p_1 q_1}{\sum p_0 q_0}\times 100$. The given expression $\sum\dfrac{p_0 q_0}{p_1 q_1}\times 100$ has the base and current years reversed and sums a per-item ratio, so it is wrong — the statement is False.

The value of an item is price $\times$ quantity. The value index number aggregates the current-year values and the base-year values and takes their ratio:

$V_{01}=\frac{\sum p_1 q_1}{\sum p_0 q_0}\times 100$

Here $p_1 q_1$ is summed over all items in the numerator (total current value) and $p_0 q_0$ in the denominator (total base value).

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