If the cost of living index number for the people of a class is 200 for the year 2016 with respect to the year 2015, which of the following statements is true ?
(a) There is an average 200 per cent rise in ‘the current year prices of the items consumed by that class.
(b) There is an average 100 per cent decrease in the current year prices of the items consumed by that class.
(c) Purchasing power of money is. ₹ 0.5.
(d) The current year prices of the items consumed by that class
