# 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:

$\mathrm{Real}\mathrm{Wages}=\frac{\mathrm{Money}\mathrm{Wages}}{CPI}\times 100\phantom{\rule{0ex}{0ex}}=\frac{160}{313}\times 100\phantom{\rule{0ex}{0ex}}=\mathrm{Rs}51.12$

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