[Class 8] The price of 1 kg of rice was β‚Ή38 in 2024. It is β‚Ή42 in 2025 - Figure it out - Page 19, 20

part 2 - Question 8 - Figure it out - Page 19, 20 - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II) - Class 8 (Ganita Prakash - 1, 2 & Old NCERT)

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Question 8 The price of 1 kg of rice was β‚Ή38 in 2024. It is β‚Ή42 in 2025. What is the rate of inflation? (Inflation is the percentage increase in prices.)Here, Rate of inflation = Percentage increase in prices = π‘ͺπ’‰π’‚π’π’ˆπ’†/(π‘Άπ’“π’Šπ’ˆπ’Šπ’π’‚π’ π’‘π’“π’Šπ’„π’†) Γ— 100 Since price increased from β‚Ή 38 to β‚Ή 42, Original price = β‚Ή 38 Change in price = β‚Ή 42 – β‚Ή 38 = β‚Ή 4 So, Rate of inflation = πΆβ„Žπ‘Žπ‘›π‘”π‘’/(π‘‚π‘Ÿπ‘–π‘”π‘–π‘›π‘Žπ‘™ π‘π‘Ÿπ‘–π‘π‘’) Γ— 100 = πŸ’/πŸ‘πŸ– Γ— 100 = 2/19 Γ— 100 = 200/19 = 10.526…% Thus, rate of inflation is approximately 10.53%

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CA Maninder Singh is a Chartered Accountant for the past 16 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.