Question

 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)​

Answer 1

Answer:

In Explanation

Step-by-step explanation:

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

Answer 2

If the base year prices are Rs. 100.

Then they decrease by 85% i.e Rs. 85

So new prices will be Rs 100-Rs 85=Rs 15

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