some more problems for my understanding:
1) When the cost of tobacco is increased by 50%, a cosumer who maintained his formal scale of consumption, said that the rise had increased his cost of living by 5%. be4 the change in price, the percentage of his cost of living was due to buying tobacco is:
a)15% b) 8% c) 10% d) None of these
2) If the price index for the yr say 1960 be 110.3 and the price index for the yr 1950 be 98.4. Then the purchasing power of money (Rupees) of 1950 will be of 1960is:
a) Rs.1.12 b) Rs.1.25 c)Rs. 1.37 d) None of these
3) The consumer price index for april 1985 was 125.. The food price index was 120 and other items index was 135. The percentage of the total weights of the index is
a) 66.67 b)68.28 c) 90.25 d) None of these
4) The total value of the retained exports into india in 1960was Rs.71.5million .m. The corrsponding total for for 1967 was Rs. 87.6 mllion p.m The index of volume of reatined imports in 1967 composed with 1960(=100) was 62.0. The price index for retained inputs for 1967 our 1960 as base is:
a) 198.61 b)197.61 c) 198.25 d) none of these
Kindly provide solution for the aboc\ve four problems.
CAclubindia
