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5 February, 16:26

From 1940 to 1980, the consumer price index (CPI) increased from 28.6 to 89.4. If a gallon of milk cost $0.75 in 1940 and the price of milk increased at the same rate as the CPI from 1940 to 1980, approximately how much did a gallon of milk cost in 1980?

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  1. 5 February, 19:35
    0
    28.6 / 89.4 = 0.75 / x

    cross multiply

    28.6x = 67.05

    x = 67.05 / 28.6

    x = 2.34 <==
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