If the CPI increased from 150 to 165 over a year, the inflation rate based on CPI is: MCQ with Answer and Explanation

If the CPI increased from 150 to 165 over a year, the inflation rate based on CPI is:

A. 10%

B. 15%

C. 65%

D. 16.5%

Answer: Option A

Solution (By JKExamLibrary)

Inflation rate = [(New CPI - Old CPI) / Old CPI] × 100 = (165 - 150)/150 × 100 = 15/150 × 100 = 10%. This measures the percentage increase in the price level.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

Which rate provides the most refined analysis of mortality by breaking it down by specific criteria (age, sex, occupation)?

A. Infant Mortality Rate

B. Crude Death Rate

C. Specific Death Rate

D. Standardized Death Rate

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Correct Answer: Option C

Explanation:
Specific death rates measure mortality within specific subgroups, removing confounding variables like age structures.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

In a 2×2 table, if (AB)=100, (Aβ)=150, (αB)=200, (αβ)=250, the total N is:

A. 600

B. 800

C. 700

D. 900

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Correct Answer: Option C

Explanation:
N = sum of all ultimate class frequencies = 100 + 150 + 200 + 250 = 700. This is the total population classified by the two attributes.

This question belongs to: Accountancy and Statistics Statistics