If GDP per capita grows at a constant rate of 9 percent per year,using the "rule of 72" it will take approximately ___ years for GDP per capita to double.

Question

Quizplus · Accepted Answer

The rule of 72 states that to find the approximate number of years for a variable to double, divide 72 by the annual growth rate. So, dividing 72 by 9 gives 8 years. Therefore, it will take approximately 8 years for GDP per capita to double. Option B matches with this reasoning.

If GDP Per Capita Grows at a Constant Rate of 9