Question

According to the table below, find the values of H and K

Answer 1

Step 1:

In this question, we are given the following:

Step 2:

From the question, we can see that this involves inflation rate formula:

PART A:

To get H, we have to do the following:

`\begin{gathered} Inflation\text{ Rate =}\frac{CPI\text{ }_(2020)-CPI_(2019)}{CPI_(2019)} \\ 0.18\text{ =}(H-100)/(100) \\ cross-multiply,\text{ we have that:} \\ H-100\text{ = 100 }(\text{ 0.18 }) \\ H\text{ -100 = 18} \\ collecting\text{ like terms, we have that:} \\ H\text{ = 100 + 18} \\ H\text{ = 118} \end{gathered}`

PART B:

To get K , we have to do the following:

`\begin{gathered} Inflation\text{ Rate =}(CPI_(2021)-CPI_(2020))/(CPI_(2020)) \\ \\ K\text{ = }\frac{142\text{ - H }}{H} \\ since\text{ H = 118} \\ K\text{ = }\frac{142\text{ - 118}}{118} \\ K\text{ =}(24)/(118) \\ K\text{ = 0.2033898305} \\ converting\text{ to percentage, we have that:} \\ K\text{ = 0.2033898305 X 100 \%} \\ K\text{ = 20.33898305\%} \end{gathered}`

correct, to the nearest whole number, we have that:

`K\text{ = 20 \% }(\text{ to the nearest whole number})`