High School

Suppose it costs $30 to fill a vehicle's gas tank in 2021. Using the price index that you found above, how much will it cost in 2022 to fill the same vehicle with the same amount of gas?

Answer :

Final answer:

To fill the same vehicle's gas tank with the same amount of gas in 2022, it will cost approximately $31.50.

Explanation:

To calculate the cost of filling the gas tank in 2022, we need to find the percentage increase in gas prices from 2021 to 2022. Let's assume the price index for gasoline is 1.05, indicating a 5% increase.

To find the cost in 2022, we multiply the 2021 cost ($30) by the price index (1.05):

$30 x 1.05 = $31.50

Therefore, it will cost approximately $31.50 in 2022 to fill the same vehicle's gas tank with the same amount of gas.

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