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12th Class Economics Solved Paper - Economics 2016 Outside Delhi Set-II

  • question_answer
    If nominal income is Rs. 500 and price index is 125, calculate real income.

    Answer:

    Real Income = (Nominal income \[\div \] Price index of current year) \[\times \] Price Index of base year.
                Let the base year?s price index be 100.
                Real Income \[=(500\div 125)\times 100\]
                            \[=4\times 100\]
                            = Rs. 400


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