If the CPI is 100 in the base year and 112 in the current year,how much did prices rise between the base year and the current year?
A) 12 percent
B) 112 percent
C) 1.2 percent
D) 0.12 percent

Question

Quizplus · Accepted Answer

To find the percentage increase in prices between the base year and the current year, we use the formula:

Percentage increase = ((CPI in current year - CPI in base year) / CPI in base year) x 100

Plugging in the numbers given in the question, we get:

Percentage increase = ((112 - 100) / 100) x 100 = 12%

Therefore, prices rose by 12% between the base year and the current year. Option A is the correct choice.

If the CPI Is 100 in the Base Year and 112