Answer:
Nepal
70 years
Kenya
47 years
Singapore
10 years
Egypt
21 years
Explanation:
Suppose
Time period = X
Per capita Income = $1
Using following formula calculate time period to double the per capital Income
FV = PV ( 1 + g)^n
Nepal
g = 1%
2 x $1 = $1 ( 1 + 0.01)^n
$2 / $1 = 1.01^n
$2 = 1.01^n
Log 2 = n Log 1.01
log 2 / log 1.01 = n
n = 69.66 years = 70 years
Kenya
g = 1.6%
2 x $1 = $1 ( 1 + 0.016)^n
$2 / $1 = 1.016^n
$2 = 1.016^n
Log 2 = n Log 1.016
log 2 / log 1.016 = n
n = 43.66 years = 47 years
Singapore
g = 7.3%
2 x $1 = $1 ( 1 + 0.073)^n
$2 / $1 = 1.073^n
$2 = 1.073^n
Log 2 = n Log 1.073
log 2 / log 1.073 = n
n = 9.84 years = 10 years
Egypt
g = 3.4%
2 x $1 = $1 ( 1 + 0.034)^n
$2 / $1 = 1.034^n
$2 = 1.034^n
Log 2 = n Log 1.034
log 2 / log 1.034 = n
n = 20.73 years = 21 years
