1
In which year is the percentage increase in the average daily earnings of men over the preceding year, the maximum ?
Answer & Solution
$$\eqalign{
& \text{% increase in 2004,} \cr
& = \frac{66.90-59.50}{59.50}\times100 \cr
& = 12.44\% \cr
& \cr
& \text{% increase in 2003,} \cr
& = \frac{59.50-48.60}{48.60}\times100 \cr
& = 22.43\% \cr
& \cr
& \text{% increase in 2002,} \cr
& = \frac{48.60-40.90}{40.90}\times100 \cr
& = 18.83\% \cr
& \cr
& \text{% increase in 2001,} \cr
& = \frac{40.90-35.80}{35.80}\times100 \cr
& = 14.25\% \cr
& \cr} $$
Thus, maximum increase in daily earning of men over preceding year is in 2003
Thus, maximum increase in daily earning of men over preceding year is in 2003
