After some consideration it has been decided to change the base year for the fuel index from 2000 to 2005. The old index numbers were:
(2000=100) (2005=100)
1998 92 A
1999 98 B
2000 100 C
2001 104 D
2002 110 E
2003 118 F
2004 120 G
2005 125 H
2006 115 I
Find the value of E.
110.25
108.2
88
72
83.2
The value of E can be found by using the base year of 2005.
E (2002) = (Index number for 2002/ Index number for 2005) * 100
E = (110/125) * 100
E = 88
Therefore, the value of E is 88.