Question
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
4.8%
4.8 percent
1.0%
1.0 percent
4.5%
4.5 percent
10.0%
Responses
4.8%
4.8 percent
1.0%
1.0 percent
4.5%
4.5 percent
10.0%
Answers
GPT-4o mini
To calculate the rate of inflation from October to November using the Consumer Price Index (CPI), you can use the following formula:
\[
\text{Inflation Rate} = \left( \frac{\text{CPI in November} - \text{CPI in October}}{\text{CPI in October}} \right) \times 100
\]
Substituting in the given values:
\[
\text{Inflation Rate} = \left( \frac{220 - 210}{210} \right) \times 100 = \left( \frac{10}{210} \right) \times 100 \approx 4.76\%
\]
Rounding to the nearest tenth of a percent, the inflation rate is approximately **4.8%**.
Thus, the correct response is:
**4.8%**
\[
\text{Inflation Rate} = \left( \frac{\text{CPI in November} - \text{CPI in October}}{\text{CPI in October}} \right) \times 100
\]
Substituting in the given values:
\[
\text{Inflation Rate} = \left( \frac{220 - 210}{210} \right) \times 100 = \left( \frac{10}{210} \right) \times 100 \approx 4.76\%
\]
Rounding to the nearest tenth of a percent, the inflation rate is approximately **4.8%**.
Thus, the correct response is:
**4.8%**