Question

When the CPI is 185, an electric razor cost $57.81. What is the difference between the price of an electric razor in 1983 and the cost of an electric razor when the CPI is 207, to the nearest cent?
a.
$33.44
b.
$31.25
c.
$26.56
d.
$6.88



Please select the best answer from the choices provided


A
B
C
D

Answer 1

Let price be proportional to CPI. If CPI = 185 gives price $57.81, then

Price at CPI 100 (1983) = 57.81 * (100/185) = $31.25 (approx).
Price at CPI 207 = 57.81 * (207/185) = $64.68 (approx).

Difference = 64.68 − 31.25 = $33.44 (to the nearest cent).

Answer: A.