If the consumer price index (CPI)in 2001 was 200 and the CPI in 2002 was 215,the rate of inflation was:
A)215 per cent.
B)15 per cent.
C)5 per cent.
D)7.5 per cent.
E)8 per cent.

Name: If the consumer price index (CPI)in 2001 was 200 and the CPI in 2002 was 215,the rate of inflation was: A)215 per cent. B)15 per cent. C)5 per cent. D)7.5 per cent. E)8 per cent.
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Question

Quizplus · Accepted Answer

The rate of inflation is calculated as ((CPI in 2002 - CPI in 2001) / CPI in 2001) * 100 = ((215 - 200) / 200) * 100 = 7.5%.

If the Consumer Price Index (CPI)in 2001 Was 200 and the CPI