Question

In 1983, a year-long newspaper subscription cost $12.75. Today, a year-long newspaper subscription costs $28.50. If the CPI is 193, what is the relation of the actual price of a year-long newspaper subscription to the expected price, to the nearest cent?
a.
The actual price is $14.79 higher than the expected price.
b.
The actual price is $3.89 higher than the expected price.
c.
The actual price is $9.20 lower than the expected price.
d.
The actual price is $11.86 lower than the expected price.


Please select the best answer from the choices provided

A
B
C
D

Answer 1

Expected price = $12.75 × (193/100) = $24.61 (to nearest cent).
Actual $28.50 − $24.61 = $3.89 higher.

Answer: B.