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boyakko [2]
3 years ago
8

A dozen eggs cost $0.96 in December 2000 and $2.75 in December 2015. The average wage for workers in private industries was $14.

28 per hour in December 2000 and $21.26 in December 2015. By what percentage did the price of a dozen eggs rise? (A) 65%(B) 179%(C) 186% By what percentage did the wage rise?(A) 15%(B) 49%(C) 134%
Business
1 answer:
marishachu [46]3 years ago
3 0

Answer:

Egg cost increase during the period: (C) 186%

Wages increase during the period:    (B) 49%

Explanation:

To calculate the rise in egg cost we will do as follow:

\frac{current}{base} -1

being current year 2015 at 2.75

and base year 2000 at 0.96 we got:

\frac{2.75}{0.96} -1

1.8645833 = 186.46%

we do the same process for wages:

\frac{21.26}{14.28} -1

0.48879551 = 48.88% = 49%

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Answer:

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