CBSE 2020 Class 12 Economics Delhi Set 2

Question : 3 of 13

Marks: +1, -0

If the Real Gross Domestic Product (GDP) in an economy is

\₹ 520

crores and Nominal Gross Domestic Product (GDP) is ₹ 650 crores, calculate the price Index.

Solution:

\;\text " Price Index "\;=\;{\;\text " Nominal GDP "\;}/{\;\text " Real GDP "\;} × 100

Price Index

=\;{650}/{520} × 100=125

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