Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

The wholesale price index of sugar in 2014 compared to 2011 is 150. If the cost of sugar was ₹20 per kg in 2011, then the cost of sugar in 2014 is :

Options:

₹30 per kg

₹25 per kg

₹50 per kg

₹15 per kg

Correct Answer:

₹30 per kg

Explanation:

The correct answer is Option (1) → â‚¹30 per kg

The price increase can be calculated,

Price in 2014 = Price in 2011 × $\frac{WPI}{100}$

$=20×\frac{150}{100}=20×1.5$

= â‚¹30 per kg