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Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages is
- a)Rs. 48.40
- b)Rs. 51.12
- c)Rs. 40.30
- d)None of these.
Correct answer is option 'B'. Can you explain this answer?
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Consumer Price index number for the year 1957 was 313 with 1940 as the...
Real Wages = (Money Wages/CPI) x 100
View all questions of this test
= (160/313) x 100
= Rs 51.12
Most Upvoted Answer
Consumer Price index number for the year 1957 was 313 with 1940 as the...
Given information:
- Consumer Price index number for the year 1957 = 313
- Base year = 1940
- Average Monthly wages in 1957 = Rs. 160/-
To calculate: Real wages of the workers in the factory in 1957
Solution:
Step 1: Calculate the inflation rate
- Inflation rate = (CPI in the current year - CPI in the base year) / CPI in the base year * 100
- Inflation rate = (313 - 100) / 100 * 100
- Inflation rate = 213%
Step 2: Calculate the real wages
- Real wages = Nominal wages / (1 + inflation rate/100)
- Real wages = 160 / (1 + 213/100)
- Real wages = 160 / 3.13
- Real wages = Rs. 51.12 (approx)
Therefore, the real wages of the workers in the factory in 1957 is Rs. 51.12.
Answer: Option B. Rs. 51.12
- Consumer Price index number for the year 1957 = 313
- Base year = 1940
- Average Monthly wages in 1957 = Rs. 160/-
To calculate: Real wages of the workers in the factory in 1957
Solution:
Step 1: Calculate the inflation rate
- Inflation rate = (CPI in the current year - CPI in the base year) / CPI in the base year * 100
- Inflation rate = (313 - 100) / 100 * 100
- Inflation rate = 213%
Step 2: Calculate the real wages
- Real wages = Nominal wages / (1 + inflation rate/100)
- Real wages = 160 / (1 + 213/100)
- Real wages = 160 / 3.13
- Real wages = Rs. 51.12 (approx)
Therefore, the real wages of the workers in the factory in 1957 is Rs. 51.12.
Answer: Option B. Rs. 51.12
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Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer?
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Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer?.
Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages isa)Rs. 48.40b)Rs. 51.12c)Rs. 40.30d)None of these.Correct answer is option 'B'. Can you explain this answer?.
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