From 1960 to 1980, the consumer price index (CPI) increased from 29.6 to 82.4. If a frozen chicken pie cost $0.28 in 1960 and the price of frozen
chicken pies increased at the same rate as the CPI from 1960 to 1980,
approximately how much did a frozen chicken pie cost in 1980?
O A. $0.82
O B. $0.78
O C. $0.30
D. $0.50
SUBMIT

CPI in 1960 = 29.6

CPI in 1980 = 82.4

Growth (%) in CPI = \frac{\text{CPI in 1980 - CPI in 1960}}{\text{CPI in 1960}} × 100

⇒ Growth (%) in CPI = \frac{82.4-29.6}{29.6} × 100

⇒ Growth (%) in CPI = 178.3783.. %

⇒ Growth (%) in CPI = 178.4%

Now, we know that price of frozen chicken pie in 1960 = $0.28

Also, we know that over 1960 to 1980, frozen chicken pie price grew at the same rate as CPI

Hence, Price of Chicken Pie in 1980 = Price of Chicken Pie in 1960 × (1 + Growth in CPI)

⇒ Price of Chicken Pie in 1980 = 0.28 × (1 + 178.4%)

⇒ Price of Chicken Pie in 1980 = 0.28 + (0.28 × 178.4%)

⇒ Price of Chicken Pie in 1980 = 0.28 + 0.49952

⇒ Price of Chicken Pie in 1980 = 0.28 + 0.50

⇒ Price of Chicken Pie in 1980 = $0.78

Hence, price of chicken pie in 1980 would be ~$0.78

Read more on -

i get you, what you should do is think of the positive things that would come out of it. it will make yours parents proud and raise your grade. you should always try and if you can't focus tell the teacher.

5

step-by-step explanation: