The cost of living index number for 2022 with base 2015 is 150. This implies that a household which spent Rs. 10,000 per month in 2015 needs to spend ______ in 2022 to maintain the same standard of living. MCQ with Answer and Explanation
The cost of living index number for 2022 with base 2015 is 150. This implies that a household which spent Rs. 10,000 per month in 2015 needs to spend ______ in 2022 to maintain the same standard of living.
A. Rs. 12,500
B. Rs. 15,000
C. Rs. 11,500
D. Rs. 10,000
Answer: Option B
Solution (By JKSSB Mock Tests)
Cost of Living Index 150 means the cost has increased by 50%, so new cost = 10,000 × 1.5 = 15,000.
No comments yet. Be the first to start the discussion!