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24 February, 12:34

Four years ago, a popular sandwich company used to sell 12-inch roast beef subs for only $5, but the same product now costs $7.69. Assuming inflation has been constant those four years, and that the entire cost increase is attributed to inflation, what was the inflation rate?

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  1. 24 February, 14:34
    0
    11.36%

    Explanation:

    Divide the new price of roast beef with the old one. 7.69 / 5

    7.69 : 5 = 1.538

    Also divide 1 with the number of years inflation occur

    1 : 4 = 0.25

    Next, is to raise the first answer gotten to the power of second.

    1. 538 ^ 0.25 = 1.113625

    Subtract from from 1

    1 - 1.1136235 = - 0.1136 = - 11.36%
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