write the formula of price relative
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Simple price index is a percentage ratio that represents a comparison for a single commodity. For example, let the price of a calculator is $60 in 2005 and $80 in 2006. To compare the twoprices, the price of one of the time periods is fixed as 100 and in this case it is the price of 2005.
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simple price index is a percentage ratio that represents a comparison for a simple commodity
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