From 2006 to 2010, per capita real gross domestic product GDP) in Ethiopia grew an average of 7.99 percent per year. At that rate, according to the Rule of 70, in roughly how many years will the Ethiopian economy double in size?

Question

Quizplus · Accepted Answer

Using the Rule of 70, we divide 70 by the annual growth rate (7.99%):
70/7.99 = 8.76
Therefore, it would take approximately 8.76 years (or about 8.8 years) for the Ethiopian economy to double in size. The correct answer is (C).

From 2006 to 2010, Per Capita Real Gross Domestic Product