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Question
The Cost of Living Index Number using Weighted Relative Method is given by ______
Options
`(sum"IW")/(sum"W")`
`sum"W"/"IW"`
`(sum"W")/(sum"IW")`
`sum"IW"/"W"`
MCQ
Fill in the Blanks
Solution
The Cost of Living Index Number using Weighted Relative Method is given by `bbunderline((sum"IW")/(sum"W"))`.
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Cost of Living Index Number
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Cost of Living Index Numbers for the years 2000 and 2005 are 120 and 220, respectively. If a person has monthly earnings of ₹10,800 in year 2000, what should be his monthly earnings in year 2005 in order to maintain same standard of living?
The cost of living index number using Weighted Relative Method is given by ______.
