Question

The cost of living index numbers in years 2015 and 2018 were 97.5 and 115 respectively. Thesalary of a worker in 2015 was Rs. 19500. How much additional salary was required for himin 2018 to maintain the same statement of living as in 2015?(a) Rs. 3000(b) 4,000(c) 3,500(d) 4,500​

Answer 1

Answer:

3500

Step-by-step explanation:

97.5    19500

115        ?

115/97.5 * 19500

22999.99

22999.99 - 19500 = 3499.99 = 3500

Answer 2

(a) Rs. 3000

Here, according to the given information, we are given that,

The cost of living standard in the year 2015 was 97.5

Also, we are given that, the salary of a worker in 2015 was Rs. 19500.

Now, we know that the real income in 2015 = $\frac{Salary}{CLI} .100$, where CLI is the cost of living standard.

Here, we will get,

Real income in 2015 =$\frac{19500}{97.5} .100 = 20000$.

Now, for the year 2018, we have been given that, the cost of living standard is equal to 115.

Now, if the standard of living has to be kept constant in 2018, the real income needs to be Rs. 20000.

Then, we get,

$\frac{Salary}{CLI} .100$

Or, 20000 = $\frac{Salary}{115} .100$

Or, Salary = Rs.23000

Then, the additional salary that is required for him in 2018 to maintain the same statement of living as in 2015 = 23000 - 20000 = 3000.

Hence, option a is correct.

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