CA Foundation Exam > CA Foundation Questions > The average price of certain commodities in 1...
Start Learning for Free
The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :
- a)The price in 1980 decreases by 60% using 1982 as base.
- b)The price in 1980 decreases by 50% using 1982 as base.
- c)The price in 1980 decreases by 90% using 1982 as base.
- d)None of these.
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
The average price of certain commodities in 1980 was Rs. 60 and the av...
Given information:
- Average price of commodities in 1980 = Rs. 60
- Average price of commodities in 1982 = Rs. 120
- Increase in 1982 on the basis of 1980 = 100%
To find:
- Decrease in 1980 using 1982 as base
Solution:
Let's assume that the price of each commodity in 1980 was x and the price of each commodity in 1982 was y. Therefore, the average price of commodities in 1980 can be calculated as:
average price in 1980 = (x + x + x + ...)/n where n is the total number of commodities
average price in 1980 = nx/n
average price in 1980 = x
Similarly, the average price of commodities in 1982 can be calculated as:
average price in 1982 = (y + y + y + ...)/n
average price in 1982 = ny/n
average price in 1982 = y
We know that the increase in 1982 on the basis of 1980 was 100%. Therefore, we can write:
(y - x)/x * 100 = 100
(y - x)/x = 1
y - x = x
y = 2x
Now, we need to find the decrease in 1980 using 1982 as base. Let's assume that the price of each commodity in 1982 is z. Therefore, we can write:
z = 2x
To find the decrease in 1980 using 1982 as base, we need to calculate the percentage change between x and z. We can write:
(z - x)/z * 100 = percentage decrease
(z - x)/2x * 100 = percentage decrease
(2x - x)/2x * 100 = percentage decrease
x/2x * 100 = percentage decrease
50% = percentage decrease
Therefore, the price in 1980 decreases by 50% using 1982 as base. Hence, option B is the correct answer.
- Average price of commodities in 1980 = Rs. 60
- Average price of commodities in 1982 = Rs. 120
- Increase in 1982 on the basis of 1980 = 100%
To find:
- Decrease in 1980 using 1982 as base
Solution:
Let's assume that the price of each commodity in 1980 was x and the price of each commodity in 1982 was y. Therefore, the average price of commodities in 1980 can be calculated as:
average price in 1980 = (x + x + x + ...)/n where n is the total number of commodities
average price in 1980 = nx/n
average price in 1980 = x
Similarly, the average price of commodities in 1982 can be calculated as:
average price in 1982 = (y + y + y + ...)/n
average price in 1982 = ny/n
average price in 1982 = y
We know that the increase in 1982 on the basis of 1980 was 100%. Therefore, we can write:
(y - x)/x * 100 = 100
(y - x)/x = 1
y - x = x
y = 2x
Now, we need to find the decrease in 1980 using 1982 as base. Let's assume that the price of each commodity in 1982 is z. Therefore, we can write:
z = 2x
To find the decrease in 1980 using 1982 as base, we need to calculate the percentage change between x and z. We can write:
(z - x)/z * 100 = percentage decrease
(z - x)/2x * 100 = percentage decrease
(2x - x)/2x * 100 = percentage decrease
x/2x * 100 = percentage decrease
50% = percentage decrease
Therefore, the price in 1980 decreases by 50% using 1982 as base. Hence, option B is the correct answer.
Free Test
FREE
| Start Free Test |
Community Answer
The average price of certain commodities in 1980 was Rs. 60 and the av...
Hey there frd.
U see if we take 60 as base (1980)then it will become like,
120/60 *100 = 200 ( it increases by 100)
likewise if we take 120 (1982) as base it will become like,
60/120*100=50 ( it decreases by 50)
so option b is right.
U see if we take 60 as base (1980)then it will become like,
120/60 *100 = 200 ( it increases by 100)
likewise if we take 120 (1982) as base it will become like,
60/120*100=50 ( it decreases by 50)
so option b is right.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer?
Question Description
The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer?.
The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer?.
Solutions for The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. 80 the decrease should have been 100% in 1980 using 1982, comment on the above statement is :a)The price in 1980 decreases by 60% using 1982 as base.b)The price in 1980 decreases by 50% using 1982 as base.c)The price in 1980 decreases by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup