Question

In 1983, a pair of jeans cost $66.35. If a pair of jeans costs $118.10 today, what is the CPI?

a.
152
b.
156
c.
178
d.
184

Answer 1

Answer choice C
118.10/66.35=1.779 or 1.78
1.78x100=178

Answer 2

The CPI is 178 .

Option (c) is correct .

Explanation:

Formula

`CPI = ((Current\ price\ of\ pair\ of\ jeans)* 100)/(Old\ price\ of\ pair\ of\ jeans)`

As given in the question

In 1983, a pair of jeans cost $66.35.

If a pair of jeans costs $118.10 today .

Put all the values in the formula

`CPI = (118.10* 100)/(66.35)`

`CPI = (11810)/(66.35)`

CPI = 178 (Approx)

Therefore the CPI is 178 .

Option (c) is correct .