UPSC Exam > UPSC Questions > Over the 7 years period from 2004-2005 to 201...
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Over the 7 years period from 2004-2005 to 2010-2011 inflation rate has been ____ percent per annum
- a)4
- b)5
- c)6
- d)7
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Over the 7 years period from 2004-2005 to 2010-2011 inflation rate has...
Calculation of Inflation Rate
Inflation rate is the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. To calculate the inflation rate, the formula used is:
Inflation Rate = [(Current Year CPI - Base Year CPI) / Base Year CPI] x 100
Given Data
Here, the given data is:
- Period: 2004-2005 to 2010-2011 (7 years)
- Inflation rate: Unknown
Solution
To calculate the inflation rate, we need CPI data for both the years. However, we are not provided with the CPI data. Hence, we cannot calculate the exact inflation rate. However, we can estimate the inflation rate based on the historical trend.
According to the historical trend, the average inflation rate in India during the period 2004-2005 to 2010-2011 was around 6% per annum. Hence, the correct answer is option C, i.e., 6%.
Conclusion
The inflation rate from 2004-2005 to 2010-2011 is estimated to be around 6% per annum based on the historical trend.
Inflation rate is the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. To calculate the inflation rate, the formula used is:
Inflation Rate = [(Current Year CPI - Base Year CPI) / Base Year CPI] x 100
Given Data
Here, the given data is:
- Period: 2004-2005 to 2010-2011 (7 years)
- Inflation rate: Unknown
Solution
To calculate the inflation rate, we need CPI data for both the years. However, we are not provided with the CPI data. Hence, we cannot calculate the exact inflation rate. However, we can estimate the inflation rate based on the historical trend.
According to the historical trend, the average inflation rate in India during the period 2004-2005 to 2010-2011 was around 6% per annum. Hence, the correct answer is option C, i.e., 6%.
Conclusion
The inflation rate from 2004-2005 to 2010-2011 is estimated to be around 6% per annum based on the historical trend.
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Over the 7 years period from 2004-2005 to 2010-2011 inflation rate has...
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