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The inflation index for the year 1989 relative to the year

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The inflation index for the year 1989 relative to the year [#permalink] New post 24 Dec 2012, 20:13
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The inflation index for the year 1989 relative to the year 1970 was 3.56, indicating that, on the average, for each dollar spent in 1970 for goods, $3.56 had to be spent for the same goods in 1989. If the price of a Model K mixer increased precisely according to the inflation index, what was the price of the mixer in 1970?

(1) The price of the Model K mixer was $102.40 more in 1989 than in 1970.

(2) The price of the Model K mixer was $142.40 in 1989.
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Re: The inflation index for the year 1989 relative to the year [#permalink] New post 24 Dec 2012, 20:57
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Let the price in year 1970 be x and in 1989 be y.
Given relation: y=3.56x

Statement 1:-y=x+102.4,
We have two equation and two variables. Hence x, or price in 1970, can be found out. Sufficient.

Statement 2:-y=142.4
Since x=y/3.56, hence x, or price in 1970, can be found out. Sufficient
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Re: The inflation index for the year 1989 relative to the year   [#permalink] 24 Dec 2012, 20:57
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