At the beginning of 2000,the CPI was 159.3.At the beginning of 2001,it was 177.6.What was the approximate rate of inflation in 2000?
A)7.6 percent.
B)18.3 percent.
C)10.0 percent.
D)11.5 percent.

Question

Quizplus · Accepted Answer

To find the rate of inflation, we can use the formula:
((final CPI - initial CPI) / initial CPI) * 100%
Plugging in the numbers, we get:
((177.6 - 159.3) / 159.3) * 100% = 11.5%
Therefore, the approximate rate of inflation in 2000 was 11.5 percent, which is closest to choice D.

At the Beginning of 2000,the CPI Was 159