Using the "rule of 70",how can we find the number of years it will take for prices to double?

Question

Quizplus · Accepted Answer

The "rule of 70" states that if we divide 70 by the annual percentage rate of increase or decrease, we get an approximate number of years it will take for the variable to double or halve. Therefore, to find the number of years it will take for prices to double, we need to divide 70 by the annual rate of inflation.

Using the "Rule of 70",how Can We Find the Number