MANAGEMENT

Detailed explanation-1: -Doubling time is the amount of time it takes for a given quantity to double in size or value at a constant growth rate. We can find the doubling time for a population undergoing exponential growth by using the Rule of 70. To do this, we divide 70 by the growth rate (r).

Detailed explanation-2: -For example, the population growth of bacteria was characterized by the function PT=0.022×1.032T. Such exponential growth or decay can be characterized by the time it takes for the population size to double or shrink in half.

Detailed explanation-3: -What is the Rule of 72? The Rule of 72 is a calculation that estimates the number of years it takes to double your money at a specified rate of return. If, for example, your account earns 4 percent, divide 72 by 4 to get the number of years it will take for your money to double.

Detailed explanation-4: -The number of years it takes for a country’s economy to double in size is equal to 70 divided by the growth rate, in percent. For example, if an economy grows at 1% per year, it will take 70 / 1 = 70 years for the size of that economy to double.