The table below shows hypothetical tuition costs at a Canadian university.
TABLE 2-1
-Refer to Table 2-1.Assume that 2012 is used as the base year,with the index number = 100.The value of the index number in 2016 is
A)100.
B)104.
C)1.04.
D)96.
E)0.96.

Question

The table below shows hypothetical tuition costs at a Canadian university.
  TABLE 2-1
-Refer to Table 2-1.Assume that 2012 is used as the base year,with the index number = 100.The value of the index number in 2016 is
A)100. 
B)104. 
C)1.04. 
D)96. 
E)0.96.

Quizplus · Accepted Answer

To calculate the index number for 2016, we need to divide the tuition cost for that year (which is $14,336) by the tuition cost for the base year (which is $13,800) and then multiply by 100. 
Index number for 2016 = (14336/13800) x 100 = 104
Therefore, the answer is B, which represents the index number for 2016.

The Table Below Shows Hypothetical Tuition Costs at a Canadian