If the CPI rises from 206.7 to 212.7 between two consecutive years, by how much has the cost of living changed between these two years?
A)The cost of living has increased by 6%.
B)The cost of living has increased by 2.9%.
C)The cost of living has increased by 12.7%.
D)The cost of living has decreased by 6%.
E)The cost of living has decreased by 5.1%.

Question

Quizplus · Accepted Answer

To find the change in the cost of living, we need to calculate the percentage change in the CPI. The formula for percentage change is [(New Value - Old Value)/Old Value] * 100. Plugging in the values, we get [(212.7 - 206.7)/206.7] * 100 = 2.9%. Therefore, the answer is B - the cost of living has increased by 2.9%.

If the CPI Rises from 206