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17 April, 22:31

From 1960 to 1980, the consumer price index (CPI) increased from 34.6 to 82.4. If a gallon of milk cost $0.75 in 1960 and the price of milk increased at the same rate as the CPI from 1960 to 1980, approximately how much did a gallon of milk cost in 1980?

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  1. 17 April, 22:57
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    34/0.75 = 82.4/x

    cross multiply

    34x = 61.8

    34x/34 = 61.8/34

    x = $1.82
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