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From 1960 to 1970, the consumer price index (CPI) increased from 29.6 to 38.8. If a macaroni and cheese dinner cost $0.37 in 1960 and the price of macaroni and cheese increased at the same rate as the CPI from 1960 to 1970, by approximately how much did the price of a macaroni and cheese dinner increase from 1960 to 1970? A. $0.39 B. $0.30 C. $0.12 D. $0.49

2 Answers

4 votes
im pretty sure its C $0.12


best of luck hope i helped :)
User Pablo Rivas
by
8.2k points
6 votes

Answer:

The correct option is C.

Explanation:

From 1960 to 1970, the consumer price index (CPI) increased from 29.6 to 38.8.

Let the macaroni and cheese dinner cost $x in 1960.

If a macaroni and cheese dinner cost $0.37 in 1960 and the price of macaroni and cheese increased at the same rate as the CPI from 1960 to 1970, then


(29.6)/(38.8)=(0.37)/(x)


29.6x=0.37* 38.8


x=(0.37* 38.8)/(29.6)


x=0.485

The macaroni and cheese dinner cost is $0.485 in 1970.

The price of a macaroni and cheese dinner increase from 1960 to 1970 by


\$0.485-\$0.37=\$0.115\approx \$0.12

The price of a macaroni and cheese dinner increased by $0.12 from 1960 to 1970.

Therefore the correct option is C.

User Alechko
by
7.7k points
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