What percentage of the household spending was spent on cloth

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Problem: Suppose the people of Canada buy only juice and cloth. The CPI basket contains quantities bought in 2020. The average Canadian Household spent $500.00 on juice and $200.00 on cloth in 2020 when juice was $4.00 per bottle and cloth was $10.00 per metre. In 2021 the price of juice was $8.00 per bottle and the price of cloth was $12 per meter. What percentage of the Household spending was spent on cloth in 2020?

Reference no: EM133623957

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