42. In a working class budget enquiry in towns A and B, it was found in 2014 that an average working class family's expenditure on food and other items was as follows: Town A Town B () Food (i) Other items In 2017, the consumer price index stood at 279 for town A, 265 for town B (Base year 2014 = 100). It was known that the rise in the prices of all articles consumed by the working class was the same for A and B. What was the 2017 index for (a) food, and (b) other items ? 64% 36% 50% 50% %3D

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
icon
Related questions
Question
42. In a working class budget enquiry in towns A and B, it was found in 2014
that an average working class family's expenditure on food and other items was as follows :
Town A
Town B
50%
50%
() Food
(i) Other items
In 2017, the consumer price index stood at 279 for town A, 265 for town B (Base year
2014 = 100). It was known that the rise in the prices of all articles consumed by the working class
was the same for A and B.
What was the 2017 index for (a) food, and (b) other items ?
64%
36%
Transcribed Image Text:42. In a working class budget enquiry in towns A and B, it was found in 2014 that an average working class family's expenditure on food and other items was as follows : Town A Town B 50% 50% () Food (i) Other items In 2017, the consumer price index stood at 279 for town A, 265 for town B (Base year 2014 = 100). It was known that the rise in the prices of all articles consumed by the working class was the same for A and B. What was the 2017 index for (a) food, and (b) other items ? 64% 36%
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill