The average price of a pound of bananas was 36.2 cents in 1981 and 59.0 cents in 2016. What is the bananas index number (1981 = 100) for 2016?
A) 1.63
B) 1.63 cents
C) 22.8 cents
D) 62.9
E) 162.9

Question

Quizplus · Accepted Answer

The index number for 2016, using 1981 as the base year (1981 = 100), is calculated by taking the price in 2016, dividing it by the price in 1981, and then multiplying by 100. So, $ \frac{59.0}{36.2} \times 100 = 162.9 $.

The Average Price of a Pound of Bananas Was 36