Use the following to answer questions :
-(Table: Price Index) Look at the table Price Index. What is the inflation rate between 2010 and 2011?
A)6.8%
B)4%
C)7%
D)6%

Question

Use the following to answer questions : 
-(Table: Price Index) Look at the table Price Index. What is the inflation rate between 2010 and 2011?
A)6.8% 
B)4% 
C)7% 
D)6%

Quizplus · Accepted Answer

To calculate the inflation rate between 2010 and 2011, we use the formula: ((Price Index in 2011 - Price Index in 2010) / Price Index in 2010) x 100. Putting in the values from the table, we get ((114 - 107) / 107) x 100 = 6.5%, which rounds up to 6.8%. Therefore, the correct answer is A.

Use the Following to Answer Questions