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BartSMP [9]
1 year ago
10

Suppose the CPI increases this year from 208 to 221. What is the rate of inflation for this year? Round your answer to the neare

st tenth of a percent.
Mathematics
1 answer:
guajiro [1.7K]1 year ago
8 0

SOLUTION:

We are to find the rate of inflation in the given question;

The formula to be used is;

Inflation rate =

\frac{\text{CPI}_{present}-CPI_{previous}}{CPI_{previous}_{}}\text{ X 100}\begin{gathered} \frac{221-208}{208}\text{ X }\frac{100}{1} \\  \\ \frac{13}{208}X\frac{100}{1} \\  \\ 6.25\text{ \%} \\ 6.3\text{ \% (nearest tenth of a percentage)} \end{gathered}

CONCLUSION

The inflation rate of CPI that increased from 208 to 221 to the nearest tenth of a percentage is 6.3%.

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