Consider the following information about the price and the price index of a popular book over three years. Which of the following is the correct statement?
A) The price of the book increased by 3.11% between 2010 and 2011.
B) If 2011 was the base year,the price index for the book in 2009 would have been 90.
C) Between 2009 and 2011,the price of the book went up by 11.11%.
D) If 2010 was the base year,the price index in 2009 would have been 99.28.

Question

Consider the following information about the price and the price index of a popular book over three years.  Which of the following is the correct statement?
A) The price of the book increased by 3.11% between 2010 and 2011. 
B) If 2011 was the base year,the price index for the book in 2009 would have been 90. 
C) Between 2009 and 2011,the price of the book went up by 11.11%. 
D) If 2010 was the base year,the price index in 2009 would have been 99.28.

Quizplus · Accepted Answer

From the table, we can see that the price of the book increased from $9.00 in 2009 to $10.00 in 2011.

To calculate the percentage increase:
% increase = (New value - Old value)/Old value x 100%
% increase = (10-9)/9 x 100%
% increase = 11.11%

Therefore, the correct statement is that the price of the book increased by 11.11% between 2009 and 2011 (option C). The other statements are incorrect.

Consider the Following Information About the Price and the Price