Compute the price index for the year
Problem
Consider last year a price index base year with a CPI of 100. If a general basket of goods last year was $20,000, and the same basket is $24,000 this year. Compute the price index for this year.
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Consider last year a price index base year with a CPI of 100. If a general basket of goods last year was $20,000. Compute the price index for this year.
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