From 2006 to 2010, per capita real gross domestic product GDP) in Egypt grew an average of 4.8 percent per year. At that rate, according to the Rule of 70, in roughly how many years will the Egyptian economy double in size?

Question

Quizplus · Accepted Answer

The Rule of 70 is a way to estimate the number of years it takes for a quantity to double, given a constant annual growth rate. It is calculated by dividing 70 by the annual growth rate. For Egypt's GDP growth rate of 4.8%, the doubling time is approximately 70 / 4.8 ≈ 14.58 years, which rounds to 15 years.

From 2006 to 2010, Per Capita Real Gross Domestic Product