Question

record the daily expenditure , quantities bought and price paid per unit of the daily purchases of your family for two weeks ( such as rice, tomato, milk, toordal & onions). how has the price change affected your family ?​

Answer 1

Daily expenditure

Explanation:

For a family of 4 following are the quantities and price paid

• Rice 10 kg                  Rs.500
• Tomato   4 Kg           Rs. 1600
• Milk    8 packs           Rs.1100
• Onions   5 Kg            Rs.800

If the price changes its obvious that it would led to an increase in the overall cost of the total bill.

This would cause the family to be negatively affected.

Due to a change in the purchasing power it would cause us to change out way of eating. We would have to decrease our quantity of goods consumed.

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Answer 2

Explanation:

Calculation of Living Index or Consumer Price Index is calculated as follows: CPI = ΣWP/ΣW = 1600/15 = 106 .66 CPI = 106.66