Question

Given that the market basket for toddler toys was $790.85 last year and $803.5 this year, what was the inflation rate? (Round your answer to the nearest hundredth of a percent.)

Answer 1

Answer:

1.6%

Step-by-step explanation:

803.5 - 790.85 = 12.65

$\frac{790.85-803.5}{803.5} x 100$

$\frac{12.65}{803.5} x 100$

0.016 x 100

1.6