The price index numbers for the years 2018, 2019, and 2020 are 140, 150, and 160 respectively. If the base year is 2018, calculate the percentage increase in price level from the base year to 2019 and 2020.

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answer is C.

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Detailed Solution

The percentage increase in price level from the base year to 2019 can be calculated as follows: ((150-140)/140)*100 = 7.14% Similarly, the percentage increase in price level from the base year to 2020 can be calculated as follows: ((160-140)/140)*100 = 14.28%

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