Question

You know that a candy bar costs sixty cents today. You also know the CPI for 1962 and the CPI for today. Which of the following would you use to compute the price of the candy bar in 1962 prices? a. sixty cents x (today's CPI - 1962 CPI) b. sixty cents x (1962 CPI - today's CPI) c. sixty cents x (today's CPI / 1962 CPI) d. sixty cents x (1962 CPI / today's CPI)

Answer 1

d. sixty cents x (1962 CPI / today's CPI)

Step-by-step explanation:

Dividing sixty cents with today's CPI and multiplying with 1962 's CPI would give the cost in 1962