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07-11-2019
Mathematics

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the price of a mobile phone was $600 in 2007. The price of a mobile phone is 2019 as increased to $1,100. What is the inflation rate of mobile phones(Round your answer to the nearest hundredth)?

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altavistard altavistard

07-11-2019

Answer:

0.83

Step-by-step explanation:

The $500 price increase over this 12 year span results in the inflation rate:

$500

---------- = 0.83..., or 0.83 to the nearest hundredth (equivalent to 83%)

$600

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