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# The inflation index for the year 1989 relative to the year

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Joined: 28 May 2009
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The inflation index for the year 1989 relative to the year [#permalink]

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24 Dec 2012, 21:13
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25% (medium)

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75% (02:12) correct 25% (01:46) wrong based on 65 sessions

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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.
[Reveal] Spoiler: OA

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Re: The inflation index for the year 1989 relative to the year [#permalink]

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24 Dec 2012, 21:57
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, 21:57
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# The inflation index for the year 1989 relative to the year

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