If the price of the market basket of goods in a country for the base year of 2013 was R20,000 and the price of the same basket had risen to R22,000 by 2014, the CPI for 2014

Question

Quizplus · Accepted Answer

CPI for 2014 = (Price of market basket of goods in 2014 / Price of market basket of goods in base year) x 100
CPI for 2014 = (R22,000/R20,000) x 100 = 110
Therefore, the correct answer would be D) is 110.

If the Price of the Market Basket of Goods in a Country