drag each tile to the correct box.\nthe cpi basket price for two consecutive years of five different…

drag each tile to the correct box.\nthe cpi basket price for two consecutive years of five different economies are given. determine the rate of inflation for each economy. then order the tiles from least to greatest inflation rate.\nyear 1 = $132.00\nyear 2 = $134.50\nyear 1 = $95.00\nyear 2 = $97.50\nyear 1 = $100.00\nyear 2 = $102.00\nyear 1 = $88.00\nyear 2 = $89.25\nyear 1 = $115.50\nyear 2 = $117.50
Answer
Explanation:
Step1: Recall inflation - rate formula
The formula for the inflation rate is $\text{Inflation Rate}=\frac{CPI_{2}-CPI_{1}}{CPI_{1}}\times100%$, where $CPI_{1}$ is the CPI in year 1 and $CPI_{2}$ is the CPI in year 2.
Step2: Calculate inflation rate for first case
For $CPI_{1} = 132.00$ and $CPI_{2}=134.50$, $\text{Inflation Rate}_1=\frac{134.50 - 132.00}{132.00}\times100%=\frac{2.5}{132.00}\times100%\approx1.89%$.
Step3: Calculate inflation rate for second case
For $CPI_{1}=95.00$ and $CPI_{2} = 97.50$, $\text{Inflation Rate}_2=\frac{97.50 - 95.00}{95.00}\times100%=\frac{2.5}{95.00}\times100%\approx2.63%$.
Step4: Calculate inflation rate for third case
For $CPI_{1}=100.00$ and $CPI_{2}=102.00$, $\text{Inflation Rate}_3=\frac{102.00 - 100.00}{100.00}\times100%=\frac{2}{100.00}\times100% = 2%$.
Step5: Calculate inflation rate for fourth case
For $CPI_{1}=88.00$ and $CPI_{2}=89.25$, $\text{Inflation Rate}_4=\frac{89.25 - 88.00}{88.00}\times100%=\frac{1.25}{88.00}\times100%\approx1.42%$.
Step6: Calculate inflation rate for fifth case
For $CPI_{1}=115.50$ and $CPI_{2}=117.50$, $\text{Inflation Rate}_5=\frac{117.50 - 115.50}{115.50}\times100%=\frac{2}{115.50}\times100%\approx1.73%$.
Step7: Order the inflation - rates
Arranging the inflation rates from least to greatest: $1.42%<1.73%<1.89%<2%<2.63%$. The corresponding pairs are: Year 1 = $88.00$, Year 2 = $89.25$ < Year 1 = $115.50$, Year 2 = $117.50$ < Year 1 = $132.00$, Year 2 = $134.50$ < Year 1 = $100.00$, Year 2 = $102.00$ < Year 1 = $95.00$, Year 2 = $97.50$
Answer:
Year 1 = $88.00$, Year 2 = $89.25$; Year 1 = $115.50$, Year 2 = $117.50$; Year 1 = $132.00$, Year 2 = $134.50$; Year 1 = $100.00$, Year 2 = $102.00$; Year 1 = $95.00$, Year 2 = $97.50$