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If the CPI is 230 in year 1 and 249 in year 2, what is the approximate percentage change in prices between the two years

Respuesta :

Answer: 8.3%

Explanation:

From the question, we are informed that the consumer price index is 230 in year 1 and 249 in year 2. The approximate percentage change in prices between the two years goes thus:

= (New CPI - Old CPI)/Old CPI × 100

=(249 - 230)/230 × 100

= 19/230 × 100

= 0.083 × 100

= 8.3%

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