Study of the Behavior of Block Replacement Model (BRM) Using Higher Order Markov Chain in Varying Inflationary Economy

\nInfluence of inflation on block replacement of the computers in ICT industry by using Markov chain is spotlighted in the present paper. The concept of minor, major repairs, breakdown and failure have been discussed in detail. Replacement decisions for variable maintenance costs has been thoroughly investigated and the results are presented. Replacement age in years is calculated for forecasted inflation, rapid increase in inflation and sluggish increase in inflation.\n