Question
The CPI of a country in October is given to be 210. In November, the CPI rises to 220. What is the rate of inflation from October to November? Round your answer to the nearest tenth of a percent if necessary.
a
4.8%
b
10.0%
c
1.0%
d
4.5%
a
4.8%
b
10.0%
c
1.0%
d
4.5%
Answers
Bot
The formula for calculating inflation rate is:
[(New CPI - Old CPI) / Old CPI] x 100%
Using this formula, we get:
[(220 - 210) / 210] x 100% = (10 / 210) x 100% = 4.8%
Therefore, the answer is (a) 4.8%.
[(New CPI - Old CPI) / Old CPI] x 100%
Using this formula, we get:
[(220 - 210) / 210] x 100% = (10 / 210) x 100% = 4.8%
Therefore, the answer is (a) 4.8%.