Maths lit inflation g11I from South Africa we use Rands

Question

asked Feb 6, 2023 18.0k views

1 Answer

Gainster · Answer 1 · 2023-02-13T06:57:33+0000

It is given that the price of the box increases from R17.99 to R19.99.

It is required to find the inflation rate for the period.

Recall the formula for the Inflation Rate:

$\frac{\text{ Current price}-\text{ Initial price}}{\text{ Initial price}}*100\%$

Substitute the given prices:

$(19.99-17.99)/(17.99)*100\%=(2)/(17.99)*100\%=(200)/(17.99)\%\approx11.1\%$ The answer is about 11.1%.