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The total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base is
- a)198.61
- b)197.61
- c)198.25
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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The total value of retained imports into India in 1960 was Rs. 71.5 mi...
Index of Volume of Retained Imports
The index of volume of retained imports in 1967 compared with 1960 is given as 62.0. This means that the volume of retained imports in 1967 was only 62% of the volume in 1960.
Total Value of Retained Imports
The total value of retained imports into India per month in 1960 was Rs. 71.5 million. In 1967, the total value of retained imports per month was Rs. 87.6 million.
Price Index for Retained Imports
To find the price index for retained imports, we need to use the formula:
Price index = (Value of retained imports in current year / Value of retained imports in base year) x 100
Here, the base year is taken as 1960.
Using the given values, we get:
Price index = (87.6 / 71.5) x 100
Price index = 122.38
Therefore, the price index for retained imports for 1967 over 1960 as base is 122.38.
Converting to 1967 Base
To convert the price index to 1967 as base, we need to use the formula:
Price index in new base year = (Price index in old base year / Index of volume in new base year) x 100
Here, the new base year is 1967.
Using the given values, we get:
Price index in 1967 base = (122.38 / 62.0) x 100
Price index in 1967 base = 197.61
Therefore, the correct option is B) 197.61.
The index of volume of retained imports in 1967 compared with 1960 is given as 62.0. This means that the volume of retained imports in 1967 was only 62% of the volume in 1960.
Total Value of Retained Imports
The total value of retained imports into India per month in 1960 was Rs. 71.5 million. In 1967, the total value of retained imports per month was Rs. 87.6 million.
Price Index for Retained Imports
To find the price index for retained imports, we need to use the formula:
Price index = (Value of retained imports in current year / Value of retained imports in base year) x 100
Here, the base year is taken as 1960.
Using the given values, we get:
Price index = (87.6 / 71.5) x 100
Price index = 122.38
Therefore, the price index for retained imports for 1967 over 1960 as base is 122.38.
Converting to 1967 Base
To convert the price index to 1967 as base, we need to use the formula:
Price index in new base year = (Price index in old base year / Index of volume in new base year) x 100
Here, the new base year is 1967.
Using the given values, we get:
Price index in 1967 base = (122.38 / 62.0) x 100
Price index in 1967 base = 197.61
Therefore, the correct option is B) 197.61.
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The total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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The total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect 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 total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect 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 total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
The total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect 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 total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect 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 total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base isa)198.61b)197.61c)198.25d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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