If the salary of a person in the base year is Rs. 4000 per annum and the current year salary is Rs 6000, by how much should his salary rise to maintain the same standard of living, if the CPI of the current year is 400?

Asked by Last Modified  

1 Answer

Learn Economics +1

Follow 1
Answer

Please enter your answer

Phoenix Edu Solutions

Base year salary = Rs. 4000, Base year index = 100 (assumption)Salary required in the current year to maintain the same standard of living of base year = Base Year Salary xCPI of Current Year/CPI of Base Year = 4000 x400/100 =Rs 16000 Current year salary = Rs. 16000The increase in current salary...
read more
Base year salary = Rs. 4000, Base year index = 100 (assumption)Salary required in the current year to maintain the same standard of living of base year = Base Year Salary xCPI of Current Year/CPI of Base Year = 4000 x400/100 =Rs 16000 Current year salary = Rs. 16000The increase in current salary required = 16000 - 6000 = Rs. 10000 read less
Comments
Dislike Bookmark

Related Questions

How was the Zamindari system of land settlement responsible for the stagnation of Indian agriculture?
The zamindari system of land settlement was responsible for the stagnation of Indian agriculture because of the below-mentioned reasons(i) The zamindars were recognized as permanent owners of the soil.(ii)...
Hardik
0 0
7
Is coaching necessary for the CBSE class 12?
Actually for disciplined study you need proper guidance to carry forward your syllabus easily without any hurdles that may be when someone is sharing his or her knowledge with proper guidance and all...
Sriomprakash
0 0
5
How should I get more than 90% in the class 12 board exam by doing self-study?
Target is achievable. You are required to be focussed. Study each and every concept, term, definition given in the NCERT books. Even the pictures given in books can form the basis for questions. Solve...
Pratik
1 0
7
Is it necessary to join coaching classes after class 11?
First of all to join school is important but it also depend on your school standards. If teacher are good and provide best which is important to you than must join otherwise can take tution classes outside...
K.
0 0
5
How do I start preparing for JEE MAINS from class 11 without using coaching?
Apart from your daily study routine, you have to spend at least 2 to 3hours to clear only basic concepts of any subject.
Vishvajeet
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

A short concept of Fiscal Deficit in Economics :--
A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits. A...

Kousiki Chakraborty

1 0
0
Why Accounting is called as
In this article, I am going to explain the accounting in layman terms. Hope you find it useful. Just Observe the following activities. Mr.X Gets salary up on working as software employee of Google....
V

Venkat Dosapati

0 0
0
Introduction, Micro Economics
The basic economics is the study of, and the Economy is a process where people ears their livelihood. Human being has unlimited wants; however, to fulfil those needs resources are limited. So we have...
S

Surya Mohan Gaur

1 0
0
class 12

Vikas Mehra

0 0
0
Consumer Equilibrium
Basic Terms: 1.Utility:It refers to want satisfying power of the commodity.It is measured in utiles. 2.Types of Utilities: Tototal Utility: It refers to sum total of utility that is received from...

Astha V.

0 0
0

Recommended Articles

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

Top Benefits of e-Learning

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

How To Choose The Right School For Children?

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

6 Exam Hall Tips To Follow, For Every Good Student

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Find Class XI Tuition near you
Class XI Tuition in Delhi
Class XI Tuition in Bangalore
Class XI Tuition in Kolkata
Class XI Tuition in Hyderabad
Class XI Tuition in Mumbai
Class XI Tuition in Chennai
Class XI Tuition in Pune
Class XI Tuition in Gurgaon
Class XI Tuition in Noida
Class XI Tuition in Ghaziabad

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you