UPSC 1998 › Indian Economy › Inflation & Price Indices

1 question · 1998 · answers as per the UPSC key

Take test Free Study this topic: Growth, Development and Planning
All years of Inflation & Price Indices · Full UPSC 1998 paper
UPSC 1998 · Q146 · Indian Economy › Inflation & Price Indices · Save

The current price index (base 1960) is nearly 330. This means that

(a) all items cost 3.3 times more than what they did in 1960
(b) the prices of certain selected items have gone up to 3.3 times
(c) weighted mean of prices of certain items has increased 3.3 times
(d) gold price has gone up 3.3 times
Show answer
Answer: (c) weighted mean of prices of certain items has increased 3.3 times