From 1982 to 2012 the cumulative US inflation rate was 95 In

From 1982 to 2012, the cumulative U.S. inflation rate was
95%. In 2012, the average price of a decent burger, fries,
and a drink was $8.75. Find the equivalent price in 1982 dollars.

Solution

Inflation= [CPI(2012)-CPI(1982)]/CPI(1982)

0.95x=8.75-x

1.95x= 8.75

x=4.49$=4.5$

Cpi is the consumer price index