An inquiry into the budget of middle class families in a certain city gave the following information Expenses Food Fuel Clothing Rent Miscellaneous…
BBS Business Statistics · 2080 · Solved Question with Answer
An inquiry into the budget of middle class families in a certain city gave the following information
| Expenses | Food | Fuel | Clothing | Rent | Miscellaneous |
| 35% | 10% | 20% | 15% | 20% | |
| price in 2015 | 145 | 23 | 65 | 30 | 40 |
| Price in 2016 | 150 | 25 | 75 | 30 | 45 |
What is the cost of living index number of 2016 as compared with that 2015. If an employee's salary of Rs. 20,000 per month is raised to Rs. 21,000 in 2016, is it adequate? If not, what should be the increment in salary in 2016?