Question

A bicycle helmet cost $41.40 in 1983. what will a bicycle helmet cost when the cpi is 186? round to the nearest cent. a. $222.58 b. $144.60 c. $77.00 d. $72.30 please select the best answer from the choices provided a b c d

Answer 1

C. $77.00

Explanation:

Edge23

Answer 2

c. $77.00

Explanation:

The CPI is 100 times the ratio of prices relative to those in some reference period. Here, we assume the reference year is 1983, so a CPI of 186 means the current prices are 1.86 times those in 1983.

1.86 × $41.40 = $77.00

The helment price will be $77.00 when the CPI is 186.