Question

Find the CPI for 2006(2005 is the base year; and 2005 as the fixed basket of goods for each year. also 2005 CPI=100)

2006 has price of $2 for 150 quantity of socks and $3 for 100 quantity of gloves.

Answer 1

You have not provided enough information to calculate the CPI. You need the price and quantity of every good in the fixed basket in 2005. You have only provided price and quantity in 2006.