The following table gives the cost of living index for 1998 with 1986 as base for different commodity groups: Food, Clothing, Fuel and Light, Rent and Miscellaneous as 440, 500, 350, 400 and 250 respectively with their weights in order in the ratio 15: 1:2:3:4. Obtain, the overall cost of living index number, suppose a person was earning $ 4,000 in 1986. What should be his salary in 1998 to maintain the standard of living as in 1986?
The following table gives the cost of living index for 1998 with 1986 as base for different commodity groups: Food, Clothing, Fuel and Light, Rent and Miscellaneous as 440, 500, 350, 400 and 250 respectively with their weights in order in the ratio 15: 1:2:3:4. Obtain, the overall cost of living index number, suppose a person was earning $ 4,000 in 1986. What should be his salary in 1998 to maintain the standard of living as in 1986?
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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![The following table gives the cost of living index for 1998 with 1986 as base for different commodity
groups: Food, Clothing, Fuel and Light, Rent and Miscellaneous as 440, 500, 350, 400 and 250
respectively with their weights in order in the ratio 15: 1:2:3:4.
Obtain, the overall cost of living index number, suppose a person was earning $ 4,000 in 1986. What
should be his salary in 1998 to maintain the standard of living as in 1986?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8b8166e1-0f90-40bd-819d-29627c1a0ef4%2Fc3a080c2-157e-436a-822e-e338297ec63e%2Fkytnt3j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following table gives the cost of living index for 1998 with 1986 as base for different commodity
groups: Food, Clothing, Fuel and Light, Rent and Miscellaneous as 440, 500, 350, 400 and 250
respectively with their weights in order in the ratio 15: 1:2:3:4.
Obtain, the overall cost of living index number, suppose a person was earning $ 4,000 in 1986. What
should be his salary in 1998 to maintain the standard of living as in 1986?
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