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14-02-2020
Business

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If the cost of a market basket is $200 in year 1 and $230 in year 2, the price index for year 2 using year 1 as the base is: A. 200 B. 115 C. 100 D. 130

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15-02-2020

Answer:

B. 115

Explanation:

The price index calculates changes in the prices paid by consumers for a basket of goods and services over a period.

Price index = (Cost of basket in a given year / cost of basket in the base year) × 100

230 / 200 = 1.15 × 100 = 115

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