GMAT Test Prep: DS-87102893 GMAT Data Sufficiency

The inflation index for the year 1989 relative to the year 1970 was 3.56, indicating that, on the average, for each dollar spent in 1970 for goods, $3.56 had to be spent for the same goods in 1989. If the price of a Model K mixer increased precisely according to the inflation index, what was the price of the mixer in 1970 ?

(1)The price of the Model K mixer was $102.40 more in 1989 than in 1970.

(2)The price of the Model K mixer was $142.40 in 1989.
Select one of the following answer choices