24
QuizMultiple Choice

Inflation and Purchasing Power

Question 24 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

A bookcase costs $93.11 when the CPI is 191. What is the CPI when a bookcase costs $76.05?

Answer
A
213
B
181
C
156
D
122

Explanation

Assuming the bookcase’s price changes in proportion to the CPI, use the same price-to-CPI ratio: new CPI = 191 × ($76.05 ÷ $93.11) ≈ 156. The correct choice is 156.

AI-written and checked against the verified answer.

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