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The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is?
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The consumer price Index for April 1985 was ☆ 125. The food price inde...
- **Calculation of Percentage of Food**
The first step in calculating the percentage of food out of the total weight of the index is to find the weight of food in the index. In this case, the food price index is 120 and the total index is 125.
- **Formula**
The formula to calculate the percentage of food is:
\[ \text{Percentage of Food} = \left( \frac{\text{Food Price Index}}{\text{Total Index}} \right) \times 100 \]
- **Calculation**
Substituting the values into the formula:
\[ \text{Percentage of Food} = \left( \frac{120}{125} \right) \times 100 = 0.96 \times 100 = 96\% \]
- **Explanation**
This means that out of the total weight of the Consumer Price Index, food items contribute 96%. This indicates that the price of food items has a higher weightage in the index compared to other items. This information can be useful for policymakers and economists to understand the impact of food prices on the overall index and inflation rate.
The first step in calculating the percentage of food out of the total weight of the index is to find the weight of food in the index. In this case, the food price index is 120 and the total index is 125.
- **Formula**
The formula to calculate the percentage of food is:
\[ \text{Percentage of Food} = \left( \frac{\text{Food Price Index}}{\text{Total Index}} \right) \times 100 \]
- **Calculation**
Substituting the values into the formula:
\[ \text{Percentage of Food} = \left( \frac{120}{125} \right) \times 100 = 0.96 \times 100 = 96\% \]
- **Explanation**
This means that out of the total weight of the Consumer Price Index, food items contribute 96%. This indicates that the price of food items has a higher weightage in the index compared to other items. This information can be useful for policymakers and economists to understand the impact of food prices on the overall index and inflation rate.
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The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is?
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The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is?.
The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The consumer price Index for April 1985 was ☆ 125. The food price index was 120 and other items index was 135. The percentage of food out of the total weight of the index is?.
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