The cost of living index number for 2022 with base 2015 is 150. This implies that a household which spent Rs. 10,000 per month in 2015 needs to spend ______ in 2022 to maintain the same standard of living. MCQ with Answer and Explanation

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The cost of living index number for 2022 with base 2015 is 150. This implies that a household which spent Rs. 10,000 per month in 2015 needs to spend ______ in 2022 to maintain the same standard of living.

A. Rs. 11,500

B. Rs. 10,000

C. Rs. 12,500

D. Rs. 15,000

Answer: Option D

Solution (By JKExamLibrary)

Cost of Living Index 150 means the cost has increased by 50%, so new cost = 10,000 × 1.5 = 15,000.

This question belongs to: Accountancy and Statistics Statistics

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To compare the health conditions of two populations with entirely different age compositions, the most suitable mortality measure is the:

A. Infant Mortality Rate

B. Specific Death Rate

C. Crude Death Rate

D. Standardized Death Rate

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Correct Answer: Option D

Explanation:
Standardized Death Rates adjust for age distribution differences, allowing for a fair comparison of mortality between different populations.

This question belongs to: Accountancy and Statistics Statistics