The current price index (base 1960) is nearly 330. This means that

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weighted means of prices of certain item has increased 3-3 times

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all items cost 3-3 times more than what they did in 1960

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the prices of certain selected items have gone up to 3-3 times

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gold price has gone up 3-3 times

Q. The current price index (base 1960) is nearly 330. This means that