CBSE 2016 Class 12 Economics Outside Delhi Set-2

Question : 3

Total: 5

If nominal income is ₹500 and price index is 125 , calculate real income.

Solution:

Real Income =( Nominal income ÷ Price index of current year) × Price Index of base year.
Let the base year's price index be 100 .
‌ Real Income ‌‌=(500÷125)×100
‌=4×100
‌=₹400

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