16.14 The Food Faddist Price Index. A food faddist eats only steak, rice, and ice cream. In 1995, he bought:
| Item | 1995 quantity | 1995 price |
|---|---|---|
| Steak | 200 pounds | $5.45/pound |
| Rice | 300 pounds | 0.49/pound |
| Ice cream | 50 gallons | 5.08/gallon |
After a visit from his mother, he adds oranges to his diet. Oranges cost $0.56/pound in 1995. Here are the food faddist’s food purchases in 2015:
| Item | 2015 quantity | 2015 price |
|---|---|---|
| Steak | 100 pounds | $7.99/pound |
| Rice | 350 pounds | 0.60/pound |
| Ice cream | 75 gallons | 6.99/gallon |
| Oranges | 100 pounds | 1.04/pound |
Find the fixed market basket Food Faddist Price Index (1995 = 100) for the year 2015.