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The prices of a commodity in the year 1975 and 1980 were 25 and 30 respectively taking 1980 as base year the price relative is :
  • a)
    None of these 
  • b)
    110.25
  • c)
    113.25
  • d)
    109.78
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
The prices of a commodity in the year 1975 and 1980 were 25 and 30 res...
Taking 1980 as base year......
Pn/p0*100
Then,
25/30*100
=83.3333
And the answer is 83.33
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Most Upvoted Answer
The prices of a commodity in the year 1975 and 1980 were 25 and 30 res...
Price Relative Calculation:
Price relative is calculated by taking the ratio of prices in the two different years with respect to the base year. In this case, the base year is 1980.

Given Prices:
- Price in 1975 = 25
- Price in 1980 = 30

Formula for Price Relative:
Price Relative = (Price in Year 1 / Price in Base Year) * 100

Calculation:
- Price Relative for 1975 = (25 / 30) * 100 = 83.33
- Price Relative for 1980 = (30 / 30) * 100 = 100
The price relative cannot be 110.25, 113.25, or 109.78 as these values are not obtained from the given prices of the commodity in 1975 and 1980. Therefore, the correct answer is option 'A' - None of these.
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The prices of a commodity in the year 1975 and 1980 were 25 and 30 respectively taking 1980 as base year the price relative is :a)None of theseb)110.25c)113.25d)109.78Correct answer is option 'A'. Can you explain this answer?
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