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The average price of certain commodities in 1980 was Rs. 60 and the average in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:
- a)The price in 1980 decrease by 60% using 1982 as base.
- b)The price in 1980 decrease by 50% using 1982 sa base.
- c)The price in 1980 decrease by 90% using 1982 as base.
- d)None of these.
Correct answer is option 'B'. Can you explain this answer?
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The average price of certain commodities in 1980 was Rs. 60 and the av...
To find the decrease in price from 1980 to 1982 using 1982 as the base, we need to first understand what it means when it says "the average in 1982 on the basis of 1980 was 100%. 80."
This statement means that the average price of commodities in 1982, when compared to the average price in 1980, was 100.80% or 100% + 80%.
To calculate the decrease in price from 1980 to 1982 using 1982 as the base, we can use the formula:
Decrease = (Price in 1980 - Price in 1982) / Price in 1982
Let's calculate the decrease using the given information:
Price in 1980 = Rs. 60
Price in 1982 (on the basis of 1980) = 100.80% of Price in 1980 = 100.80/100 * Rs. 60 = Rs. 60.48
Decrease = (60 - 60.48) / 60.48 = -0.008 or -0.8%
Therefore, the decrease in price from 1980 to 1982 using 1982 as the base is approximately -0.8%.
Now, let's analyze the given options:
a) The price in 1980 decrease by 60% using 1982 as base.
This option is incorrect as the decrease is not 60%.
b) The price in 1980 decrease by 50% using 1982 as base.
This option is correct as the decrease is approximately -0.8%, which is close to 50% (rounded off).
c) The price in 1980 decrease by 90% using 1982 as base.
This option is incorrect as the decrease is not 90%.
d) None of these.
This option is incorrect as option B is correct.
Therefore, the correct answer is option B - The price in 1980 decrease by 50% using 1982 as base.
This statement means that the average price of commodities in 1982, when compared to the average price in 1980, was 100.80% or 100% + 80%.
To calculate the decrease in price from 1980 to 1982 using 1982 as the base, we can use the formula:
Decrease = (Price in 1980 - Price in 1982) / Price in 1982
Let's calculate the decrease using the given information:
Price in 1980 = Rs. 60
Price in 1982 (on the basis of 1980) = 100.80% of Price in 1980 = 100.80/100 * Rs. 60 = Rs. 60.48
Decrease = (60 - 60.48) / 60.48 = -0.008 or -0.8%
Therefore, the decrease in price from 1980 to 1982 using 1982 as the base is approximately -0.8%.
Now, let's analyze the given options:
a) The price in 1980 decrease by 60% using 1982 as base.
This option is incorrect as the decrease is not 60%.
b) The price in 1980 decrease by 50% using 1982 as base.
This option is correct as the decrease is approximately -0.8%, which is close to 50% (rounded off).
c) The price in 1980 decrease by 90% using 1982 as base.
This option is incorrect as the decrease is not 90%.
d) None of these.
This option is incorrect as option B is correct.
Therefore, the correct answer is option B - The price in 1980 decrease by 50% using 1982 as base.
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The average price of certain commodities in 1980 was Rs. 60 and the average in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer?
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The average price of certain commodities in 1980 was Rs. 60 and the average in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease 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 in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease 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 in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease 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 in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease 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 in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease 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 in 1982 on the basis of 1980 was 100%. 80. The decrease in 1980 with 1982 as base is: using 1982, comment on the above. Statement is:a)The price in 1980 decrease by 60% using 1982 as base.b)The price in 1980 decrease by 50% using 1982 sa base.c)The price in 1980 decrease by 90% using 1982 as base.d)None of these.Correct answer is option 'B'. Can you explain this answer?.
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