Question

during the worst periods of hyperinflation in a certain country the price of food increased at a rate of 30% per month.if your food bill was $120 in one month during this period,what was it three months later ?

Answer 1

The rate of inflating is r=30% per month.

The bill of food after three months can be determined as,

`\begin{gathered} C=120(1+(30)/(100))^3 \\ C=263.64 \end{gathered}`

Thus, the bill after three months will be $263.64.