Abstract
The Bianchi type-V cosmological model with variable modified Chaplygin gas having the equation of state p=Aρ−B/ρ α , where 0≤α≤1, A is a positive constant and B is a positive function of the average scale factor a(t) of the universe [i.e. B=B(a)] has been studied. While studying its role in accelerated phase of the universe, it is observed that the equation of state of the variable modified Chaplygin gas interpolates from radiation dominated era to quintessence dominated era. The statefinder diagnostic pair {r,s} is adopted to characterize different phases of the universe.
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