a. Table below shows the price indexes of four items for the year 2000 (based year) and 2015 (current year).

Commodities Weightages Price Indexes Year 2000 Year 2015

Chicken 4 100 120

Bus fares 3 100 120

Fruits 2 100 116

Milk 1 100 108

i)Calculate the weighted price index for the year 2015. (5 marks)

ii. Calculate the rate of inflation in the year 2015. (5 marks)

iii. Compute the change in the value of money for the year 2015. (5 marks)

iv. What is the real value of RM100 for the year 2015? (5 marks)