If an economy is growing at 5% per annum.How long will it take,approximately,for its GDP to double?

Name: If an economy is growing at 5% per annum.How long will it take,approximately,for its GDP to double?
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

The rule of 72 is a shortcut to calculate the approximate number of years it takes for an investment to double at a given annual rate of return. To use the rule, divide 72 by the annual rate of return. In this case, 72 / 5 = 14.4 years. So, it will take approximately 14 years for the GDP to double.

If an Economy Is Growing at 5% Per Annum