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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:
Between 200I-02 and 2015-16 which year has recorded the smallest percentage increase in WPI on FA? .
From given options,
for the year 2003-04, percentage change in WPI on FA = ((181.5-179.2)*100)/179.2 = 230/179.2 =1.28
for the year 2004-05, percentage change in WPI on FA =((186.3 - 181.5)*100)/186.3 = 480/186.3 = 2.57
for the year 2015-16, percentage change in WPI on FA = ((262.1-253.4)*100)/253.4 = 870/253.4 = 3.43
By observation, 2003-04 has smallest percentage change because the change increases by a higher factor than the value of FA in the years other than mentioned above.
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