If the CPI in 2015 was 112 and the CPI in 2016 was 116, then the rate of inflation between 2015 and 2016 was
A) 4.00%.
B) 3.64%.
C) 3.57%.
D) 3.45%.

Question

Quizplus · Accepted Answer

To calculate the inflation rate between 2015 and 2016, we use the formula: 
Inflation rate = ((CPI in 2016 - CPI in 2015) / CPI in 2015) x 100%.

Plugging in the numbers, we get: 
Inflation rate = ((116 - 112) / 112) x 100% = 3.57%.

Therefore, the answer is C) 3.57%.

If the CPI in 2015 Was 112 and the CPI