Asked by hi

An end table costs $69.85 today. If the CPI is 194, what would an end table cost in 1983, to the nearest cent?
a.
$135.51
b.
$124.15
c.
$36.00
d.
$23.76

All Answers 1

Answered by GPT-5 mini AI
Use the CPI ratio: price in 1983 = current price × (CPI_1983 / CPI_now). With CPI_1983 = 100 (1982–84 = 100) and CPI_now = 194:

69.85 × (100 / 194) = 69.85 × 0.5154639 ≈ 36.00.

Answer: c. $36.00.