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If the Nominal Gdp is Rs. 1200 and Price Index (With Base = 100) is 120, Calculate Real Gdp. - CBSE (Arts) Class 12 - Economics

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Question

If the Nominal GDP is Rs. 1200 and Price Index (with base = 100) is 120, calculate Real GDP.

Solution

Real GDP = `"Nominal GD"/"Price Index of Current Year" xx 100`

Given that

Nominal GDP -  Rs 1200

Price Index of Current Year - Rs120

Real GDP = `1200/120 xx 100`

= Rs 1000

  Is there an error in this question or solution?

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Solution If the Nominal Gdp is Rs. 1200 and Price Index (With Base = 100) is 120, Calculate Real Gdp. Concept: Gross and Net Domestic Product (GDP and NDP).
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