Question

If inflation from last year to this year was 2% and a pair of designer jeans sold for $75 last year, what would you expect to pay for them this year?

Answer 1

$76.5

Explanation:

We have been given that inflation from last year to this year was 2% and a pair of designer jeans sold for $75 last year. We are asked to find the price of pair of designer jeans this year.

An inflation of 2% will increase the price of pair of jeans by 2%, so price of pair of jeans this year would be $75 plus 2% of $75.

`\text{Price of pair of jeans this year}=\$75+\$75*(2)/(100)`

`\text{Price of pair of jeans this year}=\$75+\$75*0.02`

`\text{Price of pair of jeans this year}=\$75+\$1.5`

`\text{Price of pair of jeans this year}=\$76.5`

Therefore, the price of pair of jeans would be $76.5 this year.