Page 144 - BA1 Integrated Workbook STUDENT 2018
P. 144
Chapter 9
Question 4
Simple price index
Express a price of $99 in 2015 as an index with a base of 2012 when the price
was $80.
Price in any given year P 1
Price Index = × 100 = × 100
Price in base year P 0
2015 index = $99/$80 × 100 = 123.75
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