If the Consumer Price Index (CPI) in January 2017 was 243 and the rate of inflation between January 2017 and January 2018 was 10 percent, then the CPI in January 2018 was:
A) 253.
B) 260.7.
C) 267.3.
D) 270.4.

Question

Quizplus · Accepted Answer

The CPI in January 2018 can be calculated by increasing the January 2017 CPI by 10 percent. This is done by multiplying the January 2017 CPI (243) by 1.10 (to account for the 10 percent increase): 243 * 1.10 = 267.3.

If the Consumer Price Index (CPI) in January 2017 Was