Refer to the following table to answer the following questions:
-As presented in the table,the rate of inflation (or deflation)from 2002-2003 was (rounded to two decimal places)
A) 112.00 percent.
B) 108.00 percent.
C) 4.00 percent.
D) -4.25 percent.
E) -3.57 percent.

Question

Refer to the following table to answer the following questions: 
-As presented in the table,the rate of inflation (or deflation)from 2002-2003 was (rounded to two decimal places)
A) 112.00 percent. 
B) 108.00 percent. 
C) 4.00 percent. 
D) -4.25 percent. 
E) -3.57 percent.

Quizplus · Accepted Answer

To find the rate of inflation (or deflation), we need to calculate the percentage change from 2002 to 2003. We can use the formula: 
[(Final value - Initial value) / Initial value] x 100

Using the information from the table:
[(94 - 90) / 90] x 100 = 4.44% (rounded to two decimal places)

However, since prices increased (inflation), we need to subtract this percentage change from 100% to get the inflation rate:
100% - 4.44% = 95.56% = 3.57% (rounded to two decimal places)

Therefore, the rate of inflation (or deflation) from 2002-2003 was 3.57% (option E).

Refer to the Following Table to Answer the Following Questions