If the price index for 2008 was 100 and the price index for 2009 was 109,then how much did prices change between 2008 and 2009?
A)1 percent increase
B)8 percent increase
C)9 percent increase
D)12 percent increase
E)12 percent decrease

Question

Quizplus · Accepted Answer

To calculate the percentage change, we use the formula: 
(Price index for the later year - Price index for the earlier year) / Price index for the earlier year x 100%

So, applying in this case, we get: 
(109 -100) / 100 x 100% = 9%

Therefore, prices increased by 9 percent between 2008 and 2009.

If the Price Index for 2008 Was 100 and the Price