We appreciate your visit to The wholesale price index or price relative of rice in 2022 compared to 2020 is 130 If the cost of rice was tex f12 tex. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
To calculate the cost of rice in 2022 using the wholesale price index of 130 compared to the base year 2020, multiply the 2020 cost of $12 per kg by the index ratio (1.30) to find the 2022 cost of $15.60 per kg.
Explanation:
The question involves calculating the cost of an item in a different year using a given wholesale price index (WPI), which is a type of price relative. The WPI for rice in 2022 compared to 2020 is 130. This means that on average, prices have increased by 30% from 2020 to 2022. If the price of rice was $12 per kg in 2020, to calculate the cost in 2022, we use the following formula:
- Cost in 2022 = Cost in 2020 × (WPI in 2022 / WPI in 2020)
Since the WPI in 2020 is considered to be 100 (the base year), we have:
- Cost in 2022 = $12 × (130 / 100) = $12 × 1.3 = $15.60
Therefore, the cost of rice in 2022 is $15.60 per kg.
Thanks for taking the time to read The wholesale price index or price relative of rice in 2022 compared to 2020 is 130 If the cost of rice was tex f12 tex. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
