Neco Model Questions Vol1 2022 Economics Question 13
Practice objective / multiple choice question 13 from the 2022 Neco Model Questions Vol1 Economics examination.
The Consumer Price Index (CPI) for the base year 2015 is 100. In 2020 the prices and quantities in the consumption basket are: rice \(\text{price}=260\) (base price 200) for 30 kg, maize \(\text{price}=180\) (base price 150) for 20 kg, and oil \(\text{price}=360\) (base price 300) for 10 litres. Compute the CPI for 2020 and the inflation rate between 2015 and 2020.
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This is Neco Model Questions Vol1 2022 Economics Question 13. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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