Question

from 1980 to 1990, the consumer price index (cpi) increased from 82.4 to 130.7 if a gallon of appel juice cost $0.95 in 1980 and the price of apple juice increased at the same rate s the cpi from 1980n to 1990 approximately how much did a gallon of apple juice cost in 1990

Answer 1

I took the quiz and it said it was 1.51

Answer 2

In 1990 the cost of apple juice was $1.51.

Explanation:

The price of gallon of apple Juice increased at the same rates the Consumer Price Index (cpi) increased from 1980 to 1990, first we must find the rate of increase.

Now in the question it is given that CPI increased from 82.4 to 130.7. To get the increased rate of CPI we just simply divide 130.7 ÷ 82.4 = 1.5861650485

Now we multiply the increased rate of CPI to the price of apple juice in 1980.

1.5861650485 × 0.95 = 1.5068567961 rounded to $1.51

Therefore the cost of apple juice was increased from $0.95 (1980) to $1.51 (1990).