Question

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?
a. 12
b. 22
c. 45
d. 77
please select the best answer from the choices provided
a
b
c
d

Explanation:

Step1: Calculate CPI for 2000

CPI in 2000 is calculated as $\frac{\text{Cost in 2000}}{\text{Cost in 1983}} \times 100=\frac{28.94}{16.35} \times 100\approx177.0$

Step2: Calculate CPI for 2005

CPI in 2005 is calculated as $\frac{\text{Cost in 2005}}{\text{Cost in 1983}} \times 100=\frac{32.54}{16.35} \times 100\approx199.0$

Step3: Find the difference

Difference in CPI $= 199 - 177 = 22$

Answer:

b. 22