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 result:

p =  2.41 %

Solution:

q1=1+4.5/100=209200=1.045 q2=12/100=4950=0.98 q=q1 q2=1.045 0.98=1.0241  p=100 (q1)=100 (1.02411)=241100=2.41%q_{1}=1+ 4.5/100=\dfrac{ 209 }{ 200 }=1.045 \ \\ q_{2}=1 - 2/100=\dfrac{ 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)=\dfrac{ 241 }{ 100 }=2.41 \%



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