If 2015 is the base year, the bundle price of goods in 2015 is $750, and the bundle price of goods in 2016 is $1,000, the 2016 price index is
A) 75.
B) 125.
C) 133.3.
D) 166.7.

Question

Quizplus · Accepted Answer

To calculate the price index, we use the formula: 
Price Index = (Current year price / Base year price) x 100
In this case, the base year is 2015 and the current year is 2016. 
So, 
Price Index = (1000/750) x 100 
= 133.3 
Therefore, the 2016 price index is 133.3.

If 2015 Is the Base Year, the Bundle Price of Goods