Using 2010 as the base year, the 2012 value of a simple price index for the following price data is _____________. $$\begin{array} { | c | c | c | c | c | c | c | }
\hline \text { Year} & 2008 & 2009 & 2010 & 2011 & 2012 & 2013 \
\hline \text { Price } & 29,88 & 32.69 & 42.04 & 46.18 & 47,98 & 48.32 \
\hline
\end{array}$$
A)77.60
B)114.13
C)160.58
D)99.30
E)100.00

Question

Using 2010 as the base year, the 2012 value of a simple price index for the following price data is _____________. $$\begin{array} { | c | c | c | c | c | c | c | } 
\hline \text { Year} & 2008 & 2009 & 2010 & 2011 & 2012 & 2013 \
\hline \text { Price } & 29,88 & 32.69 & 42.04 & 46.18 & 47,98 & 48.32 \
\hline
\end{array}$$
A)77.60
B)114.13
C)160.58
D)99.30
E)100.00

Quizplus · Accepted Answer

The simple price index for 2012 using 2010 as the base year is calculated as follows: $\frac{Price\ in\ 2012}{Price\ in\ Base\ Year (2010)} \times 100 = \frac{47.98}{42.04} \times 100 = 114.13$.

Using 2010 as the Base Year, the 2012 Value of a Simple