What is the correct formula for the Laspeyres price index, where 'o' denotes the base year and 'n' represents the current year?

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P = (Σ Po × qo) / (Σ po × qo)P = (Σ Po × qo) / (Σ pn × qn)P = (Σ Pn × qo) / (Σ po × qo)P = (Σ Po × qn) / (Σ po × qo)

Explanation

The Laspeyres price index uses the quantities from the base year to compare prices. It is calculated by dividing the total cost of purchasing the base year quantities at current year prices by the total cost of purchasing the same base year quantities at base year prices, which corresponds to option C.