Answered

This table with figures from the Bureau of Labor Statistics shows the consumer price index (CPI) at the beginning of each year, from 2010 to 2020. Use the data to answer the questions.

\begin{tabular}{|c|c|}
\hline Year & Jan \\
\hline 2010 & 216.687 \\
\hline 2011 & 220.223 \\
\hline 2012 & 226.665 \\
\hline 2013 & 230.280 \\
\hline 2014 & 233.916 \\
\hline 2015 & 233.707 \\
\hline 2016 & 236.916 \\
\hline 2017 & 242.839 \\
\hline 2018 & 247.867 \\
\hline 2019 & 251.712 \\
\hline 2020 & 257.971 \\
\hline
\end{tabular}

Check Your Understanding

By what percentage did inflation increase between 2010 and 2015?

A. 8.35 percent
B. 2.62 percent
C. 7.85 percent
D. 5.95 percent



Answer :

GinnyAnswer
To determine the percentage increase in inflation between 2010 and 2015 using the provided Consumer Price Index (CPI) data, follow these steps:

1. Identify the CPI values for the relevant years:
- CPI in January 2010: 216.687
- CPI in January 2015: 233.707

2. Calculate the change in CPI:
Subtract the CPI of 2010 from the CPI of 2015.
[tex]\[ \Delta \text{CPI} = \text{CPI}_{2015} - \text{CPI}_{2010} \][/tex]
[tex]\[ \Delta \text{CPI} = 233.707 - 216.687 = 17.02 \][/tex]

3. Calculate the percentage increase in CPI:
To find the percentage increase, divide the change in CPI by the CPI of 2010 and multiply by 100.
[tex]\[ \text{Percentage Increase} = \left( \frac{\Delta \text{CPI}}{\text{CPI}_{2010}} \right) \times 100 \][/tex]
Substituting the values:
[tex]\[ \text{Percentage Increase} = \left( \frac{17.02}{216.687} \right) \times 100 \approx 7.85 \][/tex]

Therefore, the inflation increased by approximately 7.85 percent between 2010 and 2015.
The correct answer is C. 7.85 percent.

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