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The wholesale price index numbers for the year 2014 and 2015 are found to be 177.6 and 181.2 respectively. Find the rate of inflation using index numbers of both the years. |
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Answer» Wholesale price index number for the year 2014 = 177.6 and Wholesale price index number for the year 2015 = 181.2 Rate of inflation = \(=\frac{(Wholesale\, price\, index \, number\, for\, the\, year \,2015)-( Wholesale \,price\, index\, number\, for\,the\, year\, 2014)}{Wholesale\, price\, index\, number \,for\, the\, year\, 2014} \times 100\) \(=\frac{181.2-177.6}{177.6} \times 100\) \(=\frac{3.6}{177.6} \times 100\) = \(0.0203\,\times 100\) = 2.03 % |
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