Determine the CPI for a dress that costs $85 now and cost $39.99 in
1967.
a. 470
b. 231
c. 199
d. 213
We can use the formula for CPI:
CPI = (Price of item in current year / Price of item in base year) x 100
Using the given information:
CPI = (85 / 39.99) x 100
CPI = 212.53
Rounding to the nearest whole number gives us the answer:
d. 213