Nora bought a car last year so that she could drive to work after school. She spent $250 last year for gas. This year she spent $295. Disregarding other factors, what is the inflation rate? 18% 19% 20% 21%
Mathematics · High School · Thu Feb 04 2021
llm
Answered on
Here,
money spent by nora in 1st year =$250
money spent by nora in 2nd year=$295
total inflated amount=$295- $250
=$45
Then,
inflation rate= ($45/ $250)*100%
=18%
Therefore, the inflation rate is 18%.