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Please help! (25pt and brainliest) From 1970 to 1990, the consumer price index (CPI) increased from 38.8 to 130.7. If a jar of grape jelly cost $0.25 in 1970 and the price of grape jelly increased at the same rate as the CPI from 1970 to 1990, approximately how much did a jar of grape jelly cost in 1990? A. $0.59 B. $0.84 C. $1.31 D. $0.39

Respuesta :

alenagarza697
formula: cp1/cp2 = price1/price2
so let x be the new price, 
38.8/130.7 = .25/x
x = .25*130.7/38.8
so, you get
x = 0.84

Answer:

Option B. $0.84

Step-by-step explanation:

As we know the formula of Consumer Price Index.

[tex]C.P.I.=\frac{P_{1}}{P}\times 100[/tex]

Here [tex]p_{1}[/tex] is Current price of the the product.

P = Price of the product in the base year

Now we will plug in the values for year 1970

[tex]38.8=\frac{0.25}{p}\times 100[/tex] ------------(1)

Similarly for the year 1990.

[tex]130.7=\frac{p_{1} }{p}\times 100[/tex]  ---------(2)

Now we will divide equation 2 from 1.

[tex]\frac{130.7}{38.8}=\frac{p_{1}}{0.25}[/tex]

[tex]P_{1}=\frac{(130.7)(0.25)}{38.8}=0.84[/tex]

Therefore, The price of a jar of grape jelly would be $0.84 in 1990.

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