According to the Rule of 70 (according to which per capita income doubles every 70 years at a growth rate of 1 percent p.a.0, if per capita GDP is growing at a rate of 5 percent per year, then it will take __________ years for per capita income to double.
A) 14
B) 28
C) 70
D) 140

Question

Quizplus · Accepted Answer

The Rule of 70 is a way to estimate the number of years it takes for a quantity to double, given a constant annual growth rate. It is calculated by dividing 70 by the annual growth rate. In this case, 70 divided by 5 equals 14 years.

According to the Rule of 70 (According to Which Per