Question

Maths lit inflation g11I from South Africa we use Rands

Answer 1

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%.