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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% and The decrease in 1980 with 1982 as base is: 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.?
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The average price of certain commodities in 1980 was Rs. 60 and the av...
Given Information:
- Average price of certain commodities in 1980 = Rs. 60
- Average price of the same commodities in 1982 = Rs. 120
- Increase in 1982 on the basis of 1980 = 100%
To find:
- Decrease in 1980 with 1982 as base
Solution:
Let's assume that the quantity of commodities remains constant in both years.
We can use the formula to calculate the percentage change in price:
Percentage change = ((New value - Old value) / Old value) x 100
Using this formula, we can calculate the percentage increase in price from 1980 to 1982:
Percentage increase = ((Rs. 120 - Rs. 60) / Rs. 60) x 100 = 100%
Now, to find the percentage decrease in price from 1980 to 1982, we need to reverse the formula:
Percentage decrease = ((Old value - New value) / New value) x 100
Substituting the values, we get:
Percentage decrease = ((Rs. 60 - Rs. 120) / Rs. 120) x 100 = -50%
Therefore, the price in 1980 decreases by 50% using 1982 as base.
Answer: (b) The price in 1980 decreases by 50% using 1982 as base.
Explanation:
The increase in price from 1980 to 1982 is 100%. This means that the price has doubled in 1982 as compared to 1980. However, if we use 1982 as the base year and calculate the percentage decrease in price from 1980 to 1982, we get a decrease of 50%. This means that the price in 1980 is half of the price in 1982. Therefore, option (b) is the correct answer.
- Average price of certain commodities in 1980 = Rs. 60
- Average price of the same commodities in 1982 = Rs. 120
- Increase in 1982 on the basis of 1980 = 100%
To find:
- Decrease in 1980 with 1982 as base
Solution:
Let's assume that the quantity of commodities remains constant in both years.
We can use the formula to calculate the percentage change in price:
Percentage change = ((New value - Old value) / Old value) x 100
Using this formula, we can calculate the percentage increase in price from 1980 to 1982:
Percentage increase = ((Rs. 120 - Rs. 60) / Rs. 60) x 100 = 100%
Now, to find the percentage decrease in price from 1980 to 1982, we need to reverse the formula:
Percentage decrease = ((Old value - New value) / New value) x 100
Substituting the values, we get:
Percentage decrease = ((Rs. 60 - Rs. 120) / Rs. 120) x 100 = -50%
Therefore, the price in 1980 decreases by 50% using 1982 as base.
Answer: (b) The price in 1980 decreases by 50% using 1982 as base.
Explanation:
The increase in price from 1980 to 1982 is 100%. This means that the price has doubled in 1982 as compared to 1980. However, if we use 1982 as the base year and calculate the percentage decrease in price from 1980 to 1982, we get a decrease of 50%. This means that the price in 1980 is half of the price in 1982. Therefore, option (b) is the correct answer.
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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% and The decrease in 1980 with 1982 as base is: 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.?
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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% and The decrease in 1980 with 1982 as base is: 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.? 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% and The decrease in 1980 with 1982 as base is: 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.? 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% and The decrease in 1980 with 1982 as base is: 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.?.
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% and The decrease in 1980 with 1982 as base is: 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.? 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% and The decrease in 1980 with 1982 as base is: 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.? 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% and The decrease in 1980 with 1982 as base is: 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.?.
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% and The decrease in 1980 with 1982 as base is: 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.? in English & in Hindi are available as part of our courses for CA Foundation.
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