Question

The price of a commodity increased by 5% from 1996 to 1997, by 8% from 1998 to 1999 and by
77% from 2000 to 2001. What was the average yearly price increase?

Answer 1

Given :- The price of a commodity increased by 5% from 1996 to 1997, by 8% from 1998 to 1999 and by 77% from 2000 to 2001. What was the average yearly price increase ?

Answer :-

→ price of a commodity increased from 1996 to 1997 = 5%

→ price of a commodity increased from 1998 to 1999 = 8%

→ price of a commodity increased from 2000 to 2001 = 77%

so,

→ price of a commodity increased from 1996 to 2001 = 5% + 8% + 77% = 90% .

and,

→ Total time difference = 2001 - 1996 = 5 years .

then,

→ Average yearly price increase = price of a commodity increased from 1996 to 2001 / 5 = 90/5 = 18% (Ans.)

Learn more :-

The cost of sunflower oil is increased by 30 % due to which consumption is decreased by 20%. Percentage

change in the ex...

https://brainly.in/question/35132516