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In the year 1980, the total expenditure ...

In the year 1980, the total expenditure of a family was Rs. 8400. The cost of living index for the year 1980, by taking 1940 as the base year, was 240. Then the expenditure of the family in the year 1940 was _____.

A

Rs. 3000

B

Rs. 3000

C

Rs. 3800

D

Rs. 4200

Text Solution

Verified by Experts

The correct Answer is:
B
Cost of living index
`=("Total expenditure in the current year")/("Total expenditure in the base year")xx100`.
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