The table given below reports the consumer price index in a country for four different years. Table 7.1
Refer to Table 7.1.By how much did consumer prices rise between 1980 and 2003 (rounded to the first decimal place)?
A)34.5 percent
B)10.5 percent
C)13.3 percent
D)31.2 percent
E)76.2 percent

Question

The table given below reports the consumer price index in a country for four different years. Table 7.1
 Refer to Table 7.1.By how much did consumer prices rise between 1980 and 2003 (rounded to the first decimal place)?
A)34.5 percent 
B)10.5 percent 
C)13.3 percent 
D)31.2 percent 
E)76.2 percent

Quizplus · Accepted Answer

To calculate the percent increase in consumer prices between 1980 and 2003, we use the formula:
(percent change) = [(new value - old value) / old value] x 100%
Plugging in the values from the table, we get:
(percent change) = [(203.5 - 155.2) / 155.2] x 100%
(percent change) = (48.3 / 155.2) x 100%
(percent change) = 31.12%
Rounding this to the nearest tenth, we get 31.2%, which is the closest answer choice. Therefore, the correct answer is D.

The Table Given Below Reports the Consumer Price Index in a Country