Violin Inflation Rate Calculation

What has been the inflation rate of a particular violin over twenty-two years?

a) 12.19%
b) 8.43%
c) 11.39%
d) 10.23%
e) 9.92%

Answer:

Final answer: The inflation rate for the violin is 1073.6%.

The inflation rate for the violin is calculated by finding the percentage increase in the price of the violin over twenty-two years. The original price of the violin was $2,000, and the current price is $21,472. To calculate the inflation rate, we use the formula:

Inflation Rate = ((New Price - Old Price) / Old Price) * 100

Plugging in the numbers, the calculation would be:

Inflation Rate = (($21,472 - $2,000) / $2,000) * 100

After solving this equation, we find that the inflation rate for this particular violin is 1073.6%. This means that the price of the violin has increased by over 1000% over the past twenty-two years.

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