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Table below shows consumer price index for 2020 taking 2019 as base year, using simple average of Price Relative Index method, relative price index number for cheese will be :
|
75 105 100 150 |
75 |
The correct answer is Option (1) → 75 Price Relative Index = $\frac{Price\,in\,current\,year}{Price\,in\,base\,year}×100$ $=\frac{12}{16}×100=75$ |
