Question

If consumer’s price index number changes from 100 to 352 and the salary of a person was rs 550, in

order to maintain the same standard of living, his expected salary is​

Answer 1

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Answer 2

Expected Salary = Rs 1936  

Given:

• Consumer’s price index number changes from 100 to 352
• The salary of a person was rs 550 when index was 100

To Find:

• Expected Salary when index is 352

Solution:

For Index 100   Salary  = 550

For index 1 Equivalent Salary  = 550/100

For Index 352  Equivalent  Salary = 352 x 550/100

= 352 x 55 /10

= 352 x 11/ 2

= 176 x 11

= 1936

Expected Salary = Rs 1936