This way:
private void DropDownList1_SelectedIndexChanged(object sender, EventArgs e)
{
int factor = DropDownList1.SelectedIndex + 1;
int pricein = int.Parse(Label2.Text);
int totalPrice = pricein * factor;
Label2.Text = totalPrice.ToString();
}
BUT: if you change the selection in the DropDownList several times, the value in your Label will increase each time.
You should rely not on the value displayed by the label, but on an integer variable stored in your class that you can access from the EventHandler.
private void DropDownList1_SelectedIndexChanged(object sender, EventArgs e)
{
int factor = DropDownList1.SelectedIndex + 1;
int totalPrice = pricein * factor;
Label2.Text = totalPrice.ToString();
}
Hope this helps.