Question

The price of a certain amount of goods and services a year back was $200. If price increased by 4 percent during the year, how much money is required to buy the same amount of goods today?

Answer 1

Multiply original price by (1 + %)

=$200 * (1 + 4%)
=$200 * (1 + 0.04)
=$200 * (1.04)
=$208

ANSWER: $208 is required to buy the same amount of goods today.

Hope this helps! :)