Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the value index?
A) 112.70
B) 179.08
C) 111.97
D) 109.36

Question

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.  What is the value index?
A) 112.70 
B) 179.08 
C) 111.97 
D) 109.36

Quizplus · Accepted Answer

To find the value index, we need to compare the total wholesale prices for the two years.

Total Wholesale Price for 2005 = $189,800 
Total Wholesale Price for 2009 = $338,900

Value Index = (Total Wholesale Price for 2009 / Total Wholesale Price for 2005) x 100 
Value Index = (338900/189800) x 100 = 178.85, rounded to 179.08

Therefore, the best choice is B, with a value index of 179.08.

Data for Selected Fruits Purchased at Wholesale Prices for 2005