Price inflation

This year the average wage grew by 4.5%. Prices rose by 2%. How much did the real wage increase in the given year?

Correct answer:

p =  2.41 %

Step-by-step explanation:

$$\begin{gathered} q_1=1+4.5\mathrm{/}100={\displaystyle \frac{209}{200}}=1.045 \\ {q}_2=1-2\mathrm{/}100={\displaystyle \frac{49}{50}}=0.98 \\ q=q_1\cdot q_2=1.045\cdot 0.98=1.0241 \\ p=100\cdot (q-1)=100\cdot (1.0241-1)={\displaystyle \frac{241}{100}}={\displaystyle \frac{241}{100}}\mathrm{\%}=2.41\mathrm{\%} \end{gathered}$$

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