CAT 1997 — DILR Question 36

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Passage / Data

Direction: Answer the questions based on the following table.
The table given below gives the annual details of loans from rural banks and agricultural loans over the years 1970 to 1983. Using this data answer the questions that follow.

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What is the value of the agricultural loans in 1983 at 1970 prices?

Answer & solution

Correct answer: Rs. 264

A
Rs. 326
Rs. 264
C
Rs. 305
D
None of these

Solution

The value of agricultural loan in 1983 is Rs. 915.7 million. But this at consumer price index (CPI) = 149.

So if we want this value at 1970 CPI, viz. 43, it would simply be $\frac{43 \times 915.7}{149} = 264.26$

CAT 1997 — DILR Question 36

Answer & solution

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