Homework Answers
Option D. $3.34
Explanation:
The % increase in CPI = (225 - 90.9)/90.9 * 100 = 135/90.90 * 100 = 1.48 * 100 = 148%
So, there needs to be an increase in the gasoline price by 148%
So, total increase in price required = 148% of 1.35 = 148/100 * 1.35 = 199.8/100 = 1.99
So, the adjusted price of gasoline should be = $1.35 + $1.99 = $3.34.
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