The formula to calculate Price Per Inch (PPI) is:
\[ PPI = \frac{TP}{L} \]
Where:
Price per inch is a measure of the cost efficiency of a product based on its length. It is commonly used to compare the prices of items sold by length, such as fabric, cables, or lumber. Understanding the price per inch helps consumers make more informed decisions when purchasing such items, ensuring they get the best value for their money.
Let's consider an example:
Using the formula to calculate Price Per Inch:
\[ PPI = \frac{50}{120} \approx 0.4167 \, \text{\$/inch} \]
This means that the price per inch of the product is approximately $0.4167.