CBSE 2016 Class 12 Economics Outside Delhi Set-1

Question : 6

Total: 19

Assuming real income to be ₹200 crore and price index to be 135 , calculate nominal income.

Solution:

Real income =₹200 crores
Price index =135
Let the base year's price index be 100
Nominal Income = ?
‌ Real income ‌=‌ (Nominal income ‌÷ ‌ Price index of current year ‌)
X Price index of base year.
200=‌ (Nominal income ‌+135‌ ) ‌×100
Nominal Income =(200×135)÷100
=27000÷100
=₹270‌crores.

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