If the CPI is 143 in year 1 and 149 in year 2,what is the approximate percentage change in prices between the two years?
A) 3.9 percent
B) 4.2 percent
C) 15.7 percent
D) 11.4 percent
E) 6.0 percent

Question

Quizplus · Accepted Answer

To find the percentage change in prices, we can use the formula:

Percentage change = [(new value - old value) / old value] x 100%

Using the CPI values given in the question, we can plug in the numbers:

Percentage change = [(149 - 143) / 143] x 100%
Percentage change = (6 / 143) x 100%
Percentage change = 0.042 x 100%
Percentage change = 4.2%

Therefore, the approximate percentage change in prices between the two years is 4.2 percent, which corresponds to choice B.

If the CPI Is 143 in Year 1 and 149