Refer to the following table to answer the following questions:
-As presented in the table,the rate of inflation (or deflation)from 2001-2002 was (rounded to two decimal places)
A) 7.00 percent.
B) 105.00 percent.
C) 112.00 percent.
D) 6.67 percent.
E) 6.25 percent.

Question

Refer to the following table to answer the following questions: 
-As presented in the table,the rate of inflation (or deflation)from 2001-2002 was (rounded to two decimal places)
A) 7.00 percent. 
B) 105.00 percent. 
C) 112.00 percent. 
D) 6.67 percent. 
E) 6.25 percent.

Quizplus · Accepted Answer

To calculate the rate of inflation from 2001-2002, we use the formula (CPI in 2002 - CPI in 2001) / CPI in 2001 * 100. Plugging in the values from the table, we get (120.7 - 113.1) / 113.1 * 100 = 6.67%. Therefore, the answer is D.

Refer to the Following Table to Answer the Following Questions