The price of the bicycle helmet cost at the time when CPI is 186 is given by: Option C; $77
<h3>What is consumer price index?</h3>
The consumer price index is the new cost of market basket in terms of percentage of old cost of market basket.
- = consumer price index in current period
- = cost of market basket in current period
- = cost of market basket in base period
Then, we have:
For this case, we're given that:
Thus, we get:
Thus, the price of the bicycle helmet cost at the time when CPI is 186 is given by: Option C; $77
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