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CBSE 2015 Class 12 Economics Outside Delhi Set-1

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Question : 6 of 18
Marks: +1, -0
If the Real GDP is ₹400\text{₹} 400 and Nominal GDP is ₹450\text{₹} 450 , calculate the Price Index (base =100=100 ).
Solution:  
We know,
   Real GDP     =     No minal GDP      Price Index   ×100\;\text{ Real GDP }\;\;=\;\frac{\;\text{ No minal GDP }\;}{\;\text{ Price Index }\;}\times 100
400  =  450   Price Index   ×100400\;=\;\frac{450}{\;\text{ Price Index }\;}\times 100
   Price Index     =  450400×100=112.50\;\text{ Price Index }\;\;=\;\frac{450}{400}\times 100=112.50
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