Question

This will be my 9th Rose Bowl (that I can remember). Biggest difference? The price, for the same seats, just opposite sides of the field. $255 vs $36, 2020 vs 1987. O.K. mathematicians, what’s the inflation rate over 33 years?

Answer 1

Answer:

I=608.3%

Yearly average inflation: 18.43%

Step-by-step explanation:

Increasing Rates

If a quantity has a value of X and later it has a (greater) value of Y, the increase is (Y-X). The increasing rate is

$\displaystyle I=\frac{Y-X}{X}$

In the case the quantity is the price of an article in time, then that rate is called inflation.

We have that in 1987 the seat was $36 and the same seat is $255 in 2020. The inflation rate is

$\displaystyle I=\frac{255-36}{36}=6.083\ or\ 608.3\%$

The yearly average inflation over 33 years is

$\displaystyle \frac{608.3}{33}=18.43\%$