Question

Choose the correct approximate doubling time formula for a quantity growing exponentially at a rate of P% per time period. A. 70+P OB. P/70 OC. 70 x P OD. 70/P Under which conditions does the approximate doubling formula work well? OA. The approximation works best for large growth rates. OB. The approximation works best for growth rates over 100%. OC. The approximation works best for small growth rates. D. The approximation works best for positive growth rates.​

Answer 1

The correct approximate doubling time formula for a quantity growing exponentially at a rate of P% per time period is option B: P/70.

The approximate doubling formula works well under the condition stated in option OC: The approximation works best for small growth rates.

This is because the doubling time is inversely proportional to the growth rate. When the growth rate is small, the doubling time becomes larger, and the approximation formula P/70 provides a reasonable estimate. However, for larger growth rates, the approximation becomes less accurate.

Therefore, the correct answers are:

- Approximate doubling time formula: P/70

- The approximation works best for small growth rates.

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