When nominal Gross Domestic Product is ₹840 corer and price index is 120, then the Real Gross Domestic Product will be.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → ₹700 crore
Given:
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Nominal GDP = ₹840 crore
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Price Index = 120
Real GDP= (Nominal GDP / Price Index) * 100
Real GDP= (840/ 120) * 100 = ₹700 crore