A worker received €50 for a daily wage in 2000. What is the value of that wage today if the CPI was 20 in 200 and is 80 today?
A) €50
B) €200
C) €300
D) €400

Question

Quizplus · Accepted Answer

The value of the wage today can be calculated by adjusting for inflation using the Consumer Price Index (CPI). The formula is: Today's Value = (Today's CPI / Past CPI) * Past Value. So, (€50 * 80) / 20 = €200.

A Worker Received €50 for a Daily Wage in 2000