Refer to the following table to answer the questions that follow.

-As presented in the table,the rate of inflation (or deflation)from 2001-2002 was (rounded to two decimal places):
A) 7.00%.
B) 105.00%.
C) 112.00%.
D) 6.67%.
E) 6.25%.

Question

Refer to the following table to answer the questions that follow.
 
-As presented in the table,the rate of inflation (or deflation)from 2001-2002 was (rounded to two decimal places):
A) 7.00%. 
B) 105.00%. 
C) 112.00%. 
D) 6.67%. 
E) 6.25%.

Quizplus · Accepted Answer

To calculate the rate of inflation from 2001 to 2002, we need to use the formula:
((CPI in 2002 - CPI in 2001) / CPI in 2001) x 100
Using the corresponding CPI values in the table, we get:
((120 - 112) / 112) x 100 = 6.67%
Therefore, the rate of inflation (or deflation) from 2001-2002 was 6.67%.

Refer to the Following Table to Answer the Questions That