Question

Babe Ruth's 1931 salary was $80,000, Government statistics show a consumer price index of 15.2 for 1931 and 237 for 2015. Ruth's 1931 salary was equivalent to a 2015 salary of how much?

Answer 1

Answer:

Ruth's 1931 salary was equivalent to a 2015 salary of $1,247,368.

Step-by-step explanation:

This question can be solved by a rule of three.

Government statistics show a consumer price index of 15.2 for 1931 and 237 for 2015.

This means that $15.2 in 1931 is equivalent to $237 in 2015. So

$15.2 in 1931 - $237 in 2015

$80,000 in 1931 - $x in 2015

$15.2x = 237*80,000$

$x = \frac{237*80,000}{15.2}$

$x = 1,247,368$

Ruth's 1931 salary was equivalent to a 2015 salary of $1,247,368.