Question

At 4 percent inflation, how much time will it take for prices to double?

six years
nine years
twelve years
eighteen years

Answer 1

is should only take 18 years

Answer 2

eighteen years

Step-by-step explanation:

Given that

Inflation rate = 4%

For computing the how much time is required for prices to double we apply the rule for 72 that means the 72 is divided by the inflation rate so that the time period could come

In mathematically

Number of years is

= 72 ÷ 4%

= 18 years

Hence, in the eighteen years, the price is double