If the CPI at the end of last year was 100 and the CPI at the end of this year was 115, the inflation rate was
A) 115 percent.
B) 100 percent.
C) 15 percent.
D) 1.5 percent.

Question

Quizplus · Accepted Answer

The inflation rate can be calculated by subtracting the initial CPI from the final CPI, dividing the result by the initial CPI, and multiplying by 100. So, the inflation rate = [(115-100)/100] x 100 = 15%. Therefore, the correct choice is C.

If the CPI at the End of Last Year Was