Consumer Price index number for the year 1957 was 313 with 1940 as the base year The Average Monthly - Economics - Index Numbers

Question

Consumer Price index number for the year 1957 was 313 with 1940 as
the base year The Average Monthly wages in 1957 of the workers in
to factory be Rs 160/- their real wages is:

Vanita Rana · Accepted Answer

Hi Shivang,

Real Wages = Money WagesCPI×100                         =160313×100                         = Rs 51
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Consumer Price index number for the year 1957 was 313 with 1940 as the base year. The Average Monthly wages in 1957 of the workers in to factory be Rs. 160/- their real wages is: