Option 1: 50 percent -> This would imply deflation, but prices increased from Rs 10 to Rs 15.
Option 2: 150 percent -> Nominal GDP 2001 = 110 × 15 = Rs 1,650; Real GDP 2001 = 110 × 10 = Rs 1,100; GDP Deflator = (1,650/1,100) × 100 = 150%.
Option 3: 10 percent -> This represents the quantity growth, not the price level change.
Option 4: 100 percent -> This would mean no change in price level, but prices rose significantly.
Hence, Option 2: 150 percent -> The GDP deflator measures the price level change. Nominal GDP 2001 = 110 units × Rs 15 = Rs 1,650. Real GDP 2001 (using base year 2000 prices) = 110 units × Rs 10 = Rs 1,100. GDP Deflator = (Nominal GDP/Real GDP) × 100 = (1,650/1,100) × 100 = 150%. This indicates that the price level increased by 50% from the base year. -> correct