Price relative of rice is 180 in 2013 compared to 2010. If rice costs ₹30 per kg in 2010, then its cost in 2013 is :
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹54 per kg
The price relative is,
Price relative = $\frac{Price\,in\,current\,year}{Price\,in\,base\,year}×100$
$180=\frac{P}{30}×100$
$P=1.8×30=54$