This is a word problem involving cost sharing and changes in the number of participants, solvable by setting up and solving an algebraic equation (specifically, a quadratic equation).
A group of friends decided to go on a picnic with an estimated expenditure of ₹ 960. But at the last minute four of them did not turn up. As a consequence, the remaining ones had to contribute ₹ 40 each extra. Then the number of friends who went to the picnic is
Asked in KPSC KAS Prelims 2015 · Topic: Nature of Indian Economy (Poverty and Income Inequality)
More Economic Development questions
- Poverty Gap is a better measure of absolute poverty than Head Count Ratio because :
- Which of the following criteria was considered by P.D. Ojha Committee (1960-61) for calculating poverty line ?
- Per capita consumption expenditure as a measure of poverty in India was used for the first time by :
- They defined the poverty line based on the expenditure needed to achieve a minimum caloric intake (2250 calories per person per day) and estimated the proportion of the population below this line using NSS data on household consumption expenditure. Their work was pioneering in using per capita consumption expenditure as a criterion for defining and measuring poverty in India. 351. Name, the economist who related 'poverty' with the concept of 'entitlement':
- Which of the following is not a cause of growing consumer goods market in India ?
- Tendulkar Committee was appointed on :
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- Unemployment and poverty estimates in India are based on