Answer:
a. For 2010 =$325 For 2011 = $445
b. 136.92%
c. 38.89%
Explanation:
a. The computation of the price of each vegetable is shown below:
For year 2010:
= Cauliflower price + broccoli price + carrots price
= $200 + $75 + $50
= $325
For year 2011:
= Cauliflower price + broccoli price + carrots price
= $225 + $120 + $100
= $445
b. The computation of CPI is shown below:
= (2011 Price ÷ 2010 Price) × 100
= ($445 ÷ $325) × 100
= 136.92%
c. The inflation rate is shown below:
= (2011 per total vegetables price - 2010 per total vegetables price) ÷ 2010 per total vegetables price
= ($5.00 - $3.60) ÷ $3.60
= 38.89%
Per vegetable price = (Price of each vegetable ÷ number of each vegetable)
For 2010:
Cauliflower = ($200 ÷ 100) = $2
Broccoli = ($75 ÷ 50) = $1.5
Carrots = ($50 ÷ 500) = $0.10
The total would be $3.60
For 2011:
Cauliflower = ($225 ÷ 75) = $3
Broccoli = ($120 ÷ 80) = $1.5
Carrots = ($100 ÷ 500) = $0.50
The total would be $5.00
