Correct Answer
✅ Option b — ₹ 1,950
All Options:
- A₹ 1,965
- B₹ 1,950
- C₹ 1,945
- D₹ 14,200
Detailed Solution & Explanation
1. **Given Data**:
- Consumer Price Index in 2015 () =
- Salary in 2015 = ₹
- Consumer Price Index in 2025 () =
- Actual Revised Salary in 2025 = ₹
2. **Calculate the required salary in 2025 to maintain the 2015 standard of living**:
Since , we have:
3. **Calculate the difference (additional amount needed)**:
Therefore, the employee should get an additional amount of ₹ to maintain his previous standard of living.
Hence, **Option B** is the correct answer.
About This Chapter: Index Numbers
Paper
Paper 3: Quantitative Aptitude
Weightage
4-6 Marks
Key Topics
Construction of Index Numbers, Time Series
This chapter covers Construction of Index Numbers, Time Series and is part of Paper 3: Quantitative Aptitude in the CA Foundation exam.
View Official ICAI SyllabusExam Strategy Tip
This topic carries 4-6 Marks weightage. Focus on understanding core concepts rather than memorizing.
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More Questions from Index Numbers
In price index, when a new commodity is required to be added, which of the following index is used?
Fisher's ideal formula for calculating index number satisfies the ________
Shifted Price Index =
If Laspeyres's Index Number is 250 and Paasche's Index Number is 160, then Fisher's Index number is
If , , and , then Laspeyres's Index Number is
If , , and Paasche's Index Number = 150, then Fisher's Ideal Price Index Number is
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