The cost of living in two different citi

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Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

The cost of living in two different cities can be compared with the help of :

Options:

Value index

Consumer price index

Volume index

Un-weighted index

Correct Answer:

Consumer price index

Explanation:

The correct answer is Option (2) → Consumer price index

Consumer Price Index (CPI) tracks the change in the price of basket of goods and services typically consumed by household overtime.