CBSE 2020 Class 12 Economics Delhi Set 2

Question : 3

Total: 13

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:

‌ Price Index ‌=‌

‌ Nominal GDP ‌

‌ Real GDP ‌

×100
Price Index =‌

650

520

×100=125

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