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CBSE 2020 Class 12 Economics Delhi Set 2

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Question : 3 of 13
Marks: +1, -0
If the Real Gross Domestic Product (GDP) in an economy is ₹ 520\text{₹}\,520 crores and Nominal Gross Domestic Product (GDP) is ₹ 650 crores, calculate the price Index.
Solution:  
Price Index  =  Nominal GDPReal GDP×100\text{Price Index} \; = \; \frac{\text{Nominal GDP}}{\text{Real GDP}} \times 100
Price Index =  650520×100=125= \; \frac{650}{520} \times 100 = 125
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