average inflation rate of cold drink will be 100%
Inflation is the term used to describe an increase in the price of goods and services that households buy. It is determined by how quickly these prices fluctuate. Prices frequently rise with time, but they can also fall (a situation called deflation).
You will subtract the starting price (A) from the later price (B), and divide it by the starting date (A). Then multiply the result by 100 to get the inflation rate percentage.
FORMULA FOR FINDING AVERAGE INFLATION = ((B-A)/A)*100
plugging in the values =
∵ given in the question that cost will double in the next 8 years i.e.
= Rs. 4.50 * 2
= Rs.9.00
∴ when we plug in the values in the formula we get
= ((9-4.5)/4.5) * 100
= 100 % inflation rate
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