Question

According to Rule of 72, what will be the rate of inflation if the price of a commodity doubles in 12 years?

Answer 1

According to Rule of 72, what will be the rate of inflation if the price of a commodity doubles in 12 years?

A.

5 percent

B.

6 percent

C.

4 percent

D.

12 percent

Step-by-step explanation:

#Platofam

Answer 2

According to Rule of 72, an amount of investment equal to $5,000 with an investment interest with an average of 6 percent will only take 12 years to double the value. The price will be equal to $10,000 after 12 years.