Answer:
146.3
Step-by-step explanation:
The price relative is the product of 100 and ratio of the current price to the base price. It is given as:
[tex]Price\ relative=\frac{P_n}{P_o}*100\\\\Where\ P_n\ is\ the \ price\ of\ commodity\ in\ the\ current\ period\ while\ P_o\ is\\the\ price\ of\ commodity\ in\ base\ period.[/tex]
Given that the base price is the truck cost in 2008 = $27000 and the current price is the price of the truck in 2012 = $39500. Hence:
Price relative = ($39500 / $27000) * 100 = 146.3
Therefore the price relative is 146.3
