What is the formula for Inflation Rate?

Mathematics

1 answer:

snow_lady [41]3 years ago

3 0

Inflation Rate= CPI2-CPI1/CP1 x 100

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In 2000, the circulation of a local newspaper was 3,250. In 2001, its circulation was 3,640. In 2002, the circulation was 4,100.

vodka [1.7K]

Percent increase from 2000 to 2001 is 12% and from 2001 to 2002 is 12.6%. Thus period of 2001 to 2002 has higher increase percentage.

Solution:

Given that,

Total circulation of local newspaper in 2000 = 3250

Total circulation of local newspaper in 2001 = 3640

Total circulation of local newspaper in 2002 = 4100

Finding percent of increase in the newspaper’s circulation from 2000 to 2001:

$\text { Percent increase from } 2000 \text { to } 2001=\frac{\text { change in circulation from 2001 - 2000 }}{\text { circulation in } 2000} \times 100$

$\begin{array}{l}{=\frac{3640-3250}{3250} \times 100} \\\\ {=\frac{390}{3250} \times 100=12 \%}\end{array}$

Finding percent of increase in the newspaper’s circulation from 2001 to 2002:

$\begin{array}{l}{\text { Percent increase from } 2001 \text { to } 2002=\frac{\text { change in circulation }}{\text {circulation in } 2001} \times 100} \\\\ {=\frac{4100-3640}{3640} \times 100} \\\\ {=\frac{460}{3640} \times 100=12.6 \%}\end{array}$