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Maths lit inflation g11I from South Africa we use Rands
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Maths lit inflation g11I from South Africa we use Rands

Maths lit inflation g11I from South Africa we use Rands-example-1
User Marvi
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It is given that the price of the box increases from R17.99 to R19.99.

It is required to find the inflation rate for the period.

Recall the formula for the Inflation Rate:


\frac{\text{ Current price}-\text{ Initial price}}{\text{ Initial price}}*100\%

Substitute the given prices:


(19.99-17.99)/(17.99)*100\%=(2)/(17.99)*100\%=(200)/(17.99)\%\approx11.1\%The answer is about 11.1%.
User Gainster
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