If the CPI increased from 150 to 165 over a year, the inflation rate based on CPI is: MCQ with Answer and Explanation

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If the CPI increased from 150 to 165 over a year, the inflation rate based on CPI is:

A. 15%

B. 65%

C. 16.5%

D. 10%

Answer: Option D

Solution (By JKSSB Mock Tests)

Inflation rate = [(New CPI - Old CPI) / Old CPI] × 100 = (165 - 150)/150 × 100 = 15/150 × 100 = 10%. This measures the percentage increase in the price level.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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If two events A and B are independent, the probability that both occur is 0.2 and P(A)=0.5, then P(B) is:

A. 0.4

B. 0.1

C. 0.7

D. 0.5

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Correct Answer: Option A

Explanation:
P(A)P(B)=0.2 => 0.5×P(B)=0.2 => P(B)=0.4.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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A set of 9 numbers has mean 12. If a number 15 is removed, the new mean is:

A. 13.0

B. 11.5

C. 11.625

D. 12.0

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Correct Answer: Option C

Explanation:
Sum initially = 9 × 12 = 108. After removing 15, sum = 93, n = 8. New mean = 93/8 = 11.625.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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Bayes' theorem is primarily used to compute:

A. Joint probability

B. Posterior probability

C. Marginal probability

D. Prior probability

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Correct Answer: Option B

Explanation:
Bayes' theorem updates prior beliefs with new evidence to yield posterior probabilities.

This question belongs to: Accountancy and Statistics Statistics

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