Instructions

The table below relates to data on Wholesale Price of India (WPI) for the period 2001-02 to 2015-16. WPI-based inflation is defined as percentage change in the value of the Index. Based on the table, answer the following questions:


Question 105

What is the approximate percentage change in the WPI of F&P; between 2001-02 and 2015-16?

Solution

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After 2004-05, WPI is calculated based on change from 2004-05.

Therefore, WPI of F & P in 2015-16 = 178.8 percent of WPI in 2004-05      (from table, WPI of F&P)

                                                    =  280.2*178.8/100 = 500.99

WPI of F & P in 2015-16 according to base 1990= 500.99.

WPI of F&P in 2001-02 = 226.7        (from the table)

Percentage change =  ((500.99-226.7)/226.7)*100 = 121 percent

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