About Double Time Formula
The length of time it takes for a quantity to double in size at a certain rate is referred to as double time. Compound interest, commodities consumption, inflation, resource extraction, population increase, and other items that expand over time can all be calculated using the double-time formula. The 'Rule of 70' is named after the fact that double time may be calculated by dividing 70 by the percentage growth rate. This method likewise yields similar results to the double-time formula. More Maths Formulas on the parent's page.
What Is Double Time Formula?
The double-time is calculated using the following formula:
Double Time = log2/log(1+r)
Double Time = 70/r
Where,
r = content growth rate
Solved Example of Double Time Formula
Example: Determine the time it will take to double our money if we can get a constant growth rate of 7% per annum.
Sol: To Find the time taken to double our money.
Given: r = 7%
Now, using the double-time formula.
Double Time=log2/log(1+r)
Double Time= log2/log(1+r)
= log2/log(1+7%)
= log2log(1+0.07)
= 10.24 years
Answer: It will take 10.24 years to double our money
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