Whats the right answer
The CPI of a country in October is given to be 210. In November, the CPI rises to 220. What is the rate of inflation from October to November? Round your answer to the nearest tenth of a percent if necessary.(1 point)
Responses
1.0%
1.0 percent
10.0%
10.0 percent
4.5%
4.5 percent
4.8%
4.8 percent
The rate of inflation can be calculated using the formula:
Rate of Inflation = ((New CPI - Old CPI) / Old CPI) * 100
Using the given information:
Rate of Inflation = ((220 - 210) / 210) * 100
= (10 / 210) * 100
= 0.0476 * 100
= 4.76%
Therefore, the rate of inflation from October to November is 4.8 percent.
To calculate the rate of inflation from October to November, you can use the following formula:
[(CPI in November - CPI in October) / CPI in October] x 100
Using the given numbers, let's plug them into the formula:
[(220 - 210) / 210] x 100 = (10/210) x 100 = 0.048 x 100 = 4.8
Therefore, the rate of inflation from October to November is 4.8 percent. So, the correct answer is "4.8 percent."
To calculate the rate of inflation, we use the formula:
Rate of inflation = (CPI in November - CPI in October) / CPI in October
In this case, the CPI in October is 210 and the CPI in November is 220. So, the rate of inflation would be:
(220 - 210) / 210 = 10 / 210 ≈ 0.0476
To convert this to a percentage, we multiply by 100:
0.0476 * 100 ≈ 4.76%
Therefore, the rate of inflation from October to November is approximately 4.8%, which corresponds to the last option: 4.8 percent.