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SSC Audit Tax Finance P-II QUESTION #6186
Question 1
According to the 'Rule of 72', how long will it take for money to double at a compound annual interest rate of $12\%$?
  • Approximately 6 years.✔️
  • Exactly 7.2 years.
  • Approximately 8 years.
  • 12 years.
Correct Answer Explanation
$72 / 12 = 6$. The rule states time to double is $72 / r$ [cite: 60].