From 1960 to 1980 , the consumer price index (cpi) increased from 29.6 to 82.4. If a frozen chicken pie cost $0.28 in 1960 and t
2 answers:
CPI in 1960 = 29.6
CPI in 1980 = 82.4
Growth (%) in CPI = × 100
⇒ Growth (%) in CPI = × 100
⇒ Growth (%) in CPI = 178.3783.. %
⇒ Growth (%) in CPI = 178.4%
Now, we know that price of frozen chicken pie in 1960 = $0.28
Also, we know that over 1960 to 1980, frozen chicken pie price grew at the same rate as CPI
Hence, Price of Chicken Pie in 1980 = Price of Chicken Pie in 1960 × (1 + Growth in CPI)
⇒ Price of Chicken Pie in 1980 = 0.28 × (1 + 178.4%)
⇒ Price of Chicken Pie in 1980 = 0.28 + (0.28 × 178.4%)
⇒ Price of Chicken Pie in 1980 = 0.28 + 0.49952
⇒ Price of Chicken Pie in 1980 = 0.28 + 0.50
⇒ Price of Chicken Pie in 1980 = $0.78
Hence, price of chicken pie in 1980 would be ~$0.78
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Answer:
After 3 weeks they both will have the same amount in their savings account.
Step-by-step explanation:
Given:
Amount saved by Haley = $155
Amount saved by Hank = $230
Amount saving each week by Haley = $10
Amount spending each week by Hank = $15
We need to find Number of weeks when both both will have same amount in savings account.
Solution:
Let Number of week be 'x'.
Total Amount of Haley can be calculated by Amount saved by Haley plus Amount saving each week by Haley multiplied by number of weeks.
framing in equation form we get;
Total Amount of Haley =
Also;
Total Amount of Hank can be calculated by Amount saved by Hank minus Amount spending each week by Hank multiplied by number of weeks.
framing in equation form we get;
Total Amount of Hank =
Now we need to find the number of weeks when both will have same amount.
To find the same we will have to make both the equation equal.
So we can say.
On Solving above equation we get;
We will combine the like terms together;
Now Dividing both side by 25 using Division property of equality we get;
Hence, After 3 weeks they both will have the same amount in their savings account.