If the consumer price index was 232 in 2013 and 244 in 2015,how much did prices increase during this time period?
A)4.9 percent
B)5.2 percent
C)6 percent
D)12 percent

Question

Quizplus · Accepted Answer

To calculate the percentage increase in prices, we can use the formula:

Percentage increase = ((new value - old value) / old value) * 100

Plugging in the given values, we get:

Percentage increase = ((244 - 232) / 232) * 100

Percentage increase = (12 / 232) * 100

Percentage increase = 0.0517 * 100

Percentage increase = 5.17 percent

Rounding to the nearest tenth, we get the answer as 5.2 percent. Therefore, the correct choice is B).

If the Consumer Price Index Was 232 in 2013 and 244