11
QuizMultiple Choice

Inflation and Purchasing Power

Question 11 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

In 1983, a can of house paint cost $16.35. In 2000, a can of house paint cost $28.94, and in 2005, a can of house paint cost $32.54. What is the difference in CPI between 2000 and 2005?

Answer
A
12
B
22
C
45
D
77

Explanation

Using 1983 as the base year, calculate each CPI as the can’s price divided by the 1983 price, then multiply by 100. The difference is (32.54 − 28.94) ÷ 16.35 × 100 ≈ 22. So the CPI difference is 22, choice B.

AI-written and checked against the verified answer.

Previous
Next