Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.
Sagot :
Answer:
125
Explanation:
Given the table:
Year
Price of Apples
Price of Oranges
2017
$2.0 per pound (Apples)
$2.00 per pound (Oranges)
2018
$1.5 per pound (Apples)
$3.00 per pound (Oranges
Consumer price index is obtained using the formular :
CPI = (Cost of market basket In current period / Cost of market basket in base period) * 100
Current period (2018):
Cost of 10 pounds of apple and 20 pounds of oranges :
($1.5 * 10) + ($3 * 20) = $15 + $60 = $75
Base year (2017)
Cost of 10 pounds of apple and 20 pounds of oranges :
($2 * 10) + ($2 * 20) = $20 + $40 = $60
Hence,
CPI = ($75 / $60) * 100
CPI = 1.25 * 100
CPI = 125
Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.