If now the prices of all the commodities in a place have been decreased by 85% over the
base period prices, then the index number of prices for the place is now (index number of
prices of base period = 100)
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The index number of prices for the place now is Rs. 15
Given:
Base price = Rs. 100
The decrease in price = 85%
Explanation:
The decrease in price = 85/100 × 100 = Rs. 85
The new price = Base price - decrease in price
On substituting the prices, we get,
The new price = Rs. 100 - Rs. 85
∴ The new price = Rs. 15
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