Answer: 3.498 * 10^26 % ; 16.9% per day
Step-by-step explanation:
Inflation rate = 11,000 per month
Hence, price after a month :
Final price = initial price (1 + rate)
Final price = 1 + 11000/100
Final price = (1 + 110) * initial price
Final price = 111 times the initial price
Hence inflation over the 12 month period :
(111)^12 = 3.498 * 10^24
(3.498 * 10^24) * 100% = 3.498 * 10^26 %
The daily inflation rate :
Number of days = 30
30th root of 3.498 * 10^24 = 1.169
(1.169 - 1) = 0.169
0.169 * 100% = 16.9% per day
