The price index was 128 in 2013, and the inflation rate was 24 percent between 2012 and 2013. The price index in 2012 was Select one: a. 158.7. b. 104.0. c. 152.0. d. 103.2.

 d. 103.2.

Step-by-step explanation:

Formula for inflation rate =

, where  = Price index in first period

= Price index in second period.

As per given , we have

The inflation rate between 2012 and 2013= 24%

The price index was 128 in 2013.

i.e.

Let x be the price index in 2012

Then, we have

  [Substitute all values in formula]

Hence, the  price index in 2012 was 103.2.

So , the correct option is d. 103.2.

49%

step-by-step explanation:

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