Use the following to answer questions:
-(Table: Price Index)What is the inflation rate between 2010 and 2011?
A) 6.8%
B) 4%
C) 7%
D) 6%

Question

Use the following to answer questions: 
-(Table: Price Index)What is the inflation rate between 2010 and 2011?
A) 6.8% 
B) 4% 
C) 7% 
D) 6%

Quizplus · Accepted Answer

To calculate inflation rate between 2010 and 2011, we need to use the formula: (Price index of 2011 - Price index of 2010)/Price index of 2010 * 100. Plugging in the numbers from the table, we get (108.2 - 101.2)/101.2 * 100 = 6.9%. Rounded to the nearest tenth of a percent, this is 6.8%, which is option A.

Use the Following to Answer Questions