Between 1970 and 1976, Israel's average inflation rate was about 65 percent per year. With that rate of inflation, prices would double about every ________ using the rule of 70.
A) 93 years
B) 107.7 years
C) 0.95 years
D) 1.1 years
E) 9.3 years

Question

Quizplus · Accepted Answer

Using the rule of 70, we divide 70 by the inflation rate to find the number of years it takes for prices to double. 
70/65 = 1.08 years or approximately 1.1 years.

Between 1970 and 1976, Israel's Average Inflation Rate Was About