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A product's price was $80 last year. If the inflation rate is 5%, what will be t

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Question: A product\'s price was $80 last year. If the inflation rate is 5%, what will be the price of the product this year?

Options:

  1. $82
  2. $84
  3. $85
  4. $86

Correct Answer: $84

Solution: 

Price this year = 80 + (5/100 * 80) = 80 + 4 = $84

A product's price was $80 last year. If the inflation rate is 5%, what will be t

Practice Questions

Q1
A product's price was $80 last year. If the inflation rate is 5%, what will be the price of the product this year?
  1. $82
  2. $84
  3. $85
  4. $86

Questions & Step-by-Step Solutions

A product's price was $80 last year. If the inflation rate is 5%, what will be the price of the product this year?
  • Inflation Calculation – Understanding how to calculate the new price of a product based on a given inflation rate.
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