Given that p and p represent base and current prices of a commodity, q and q refer to the base and current quantities, then the formula used to calculate price relatives is :
Given that p and p represent base and current prices of a commodity, q and q refer to the base and current quantities, then the formula used to calculate price relatives is :
Solution
✅ Correct Option: 1
Price relative is the ratio of current to base price multiplied by 100: .
Related questions:
2023: 23 May Shift 3
2023: 23 May Shift 3
2026: 29 May Shift 2