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MMLU-Pro / 7394 / Mr. Riley loaned his friend, Mr. Gillis, …

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Mr. Riley loaned his friend, Mr. Gillis, 400topurchaseasecond−handcar.OneyearlaterMr.Gillisreturned400 to purchase a second-hand car. One year later Mr. Gillis returned 420 to Mr. Riley. During that period, the consumer price index rose by 5%. a) What is the nominal rate of interest in this example? b) What is the real rate of interest?
Plain-text mathematical notation (without MathML)
Mr. Riley loaned his friend, Mr. Gillis, 400topurchaseasecond−handcar.OneyearlaterMr.Gillisreturned420 to Mr. Riley. During that period, the consumer price index rose by 5%. a) What is the nominal rate of interest in this example? b) What is the real rate of interest?
Original LaTeX notation
Mr. Riley loaned his friend, Mr. Gillis, $400 to purchase a second-hand car. One year later Mr. Gillis returned $420 to Mr. Riley. During that period, the consumer price index rose by 5%. a) What is the nominal rate of interest in this example? b) What is the real rate of interest?

category

economics

options

  1. Nominal rate is 6%, Real rate is -1%
  2. Nominal rate is 3%, Real rate is 2%
  3. Nominal rate is 5%, Real rate is 0%
  4. Nominal rate is 6%, Real rate is 1%
  5. Nominal rate is 10%, Real rate is 5%
  6. Nominal rate is 2%, Real rate is -3%
  7. Nominal rate is 5%, Real rate is -1%
  8. Nominal rate is 4%, Real rate is 1%
  9. Nominal rate is 4.5%, Real rate is -0.5%
  10. Nominal rate is 7%, Real rate is 2%

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7394
task_id
0c449e39-60e3-598f-9bff-af369ba9479e
task_key
default--test--7394
task_revision_id
1
config / split
default / test

Official source

initial import