Question

The price of a gallon of milk went from $2.70 to $3.50 in four years. Find the rate of change of the price of milk.

A) $0.10 per year
B) $0.20 per year
C) $0.50 per year
D) $0.80 per year

Answer 1

b. $0.20 per year ............

Answer 2

Answer: B)$0.20 per year

Explanation:

Given: The previous price of a gallon of milk = $2.70

The new price of a gallon of milk = $3.50

Time to increase price = 4 years

Now, the rate of change of price of milk is given by:-

`k=\frac{\text{New price-Previous price}}{Time}\\\\\Rightarrow\ k=(3.50-2.70)/(4)\\\\\Rightarrow\ k=(0.80)/(4)\\\\\Rightarrow\ k=20`

Hence, the rate of change of the price of milk= $0.20 per year