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