Question

In 1983, a pair of jeans cost $66.35. If a pair of jeans costs $118.10 today, what is the CPI?

Answer 1

Answer choice C
118.10/66.35=1.779 or 1.78
1.78x100=178

Answer 2

Answer:

The CPI is 178 .

Option (c) is correct .

Step-by-step explanation:

Formula

$CPI = \frac{(Current\ price\ of\ pair\ of\ jeans)\times 100}{Old\ price\ of\ pair\ of\ jeans}$

As given in the question

In 1983, a pair of jeans cost $66.35.

If a pair of jeans costs $118.10 today .

Put all the values in the formula

$CPI = \frac{118.10\times 100}{66.35}$

$CPI = \frac{11810}{66.35}$

CPI = 178 (Approx)

Therefore the CPI is 178 .

Option (c) is correct .